Bank of New York Mellon Corp boosted its position in shares of Mallinckrodt PLC (NYSE:MNK) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,093,463 shares of the company’s stock after acquiring an additional 32,427 shares during the period. Bank of New York Mellon Corp owned about 1.32% of Mallinckrodt worth $20,404,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Mallinckrodt by 22.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,662 shares of the company’s stock valued at $343,000 after buying an additional 4,381 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Mallinckrodt by 17.1% in the 1st quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock valued at $592,000 after buying an additional 5,958 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Mallinckrodt by 12.7% in the 1st quarter. Baker Avenue Asset Management LP now owns 59,463 shares of the company’s stock valued at $861,000 after buying an additional 6,720 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Mallinckrodt by 12.0% in the 1st quarter. Gabelli Funds LLC now owns 65,349 shares of the company’s stock valued at $946,000 after buying an additional 7,000 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Mallinckrodt in the 1st quarter valued at $104,000.
Several brokerages have recently issued reports on MNK. Zacks Investment Research upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 27th. Wells Fargo & Co upped their target price on shares of Mallinckrodt from $15.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, July 9th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 target price on shares of Mallinckrodt in a report on Wednesday, August 8th. Canaccord Genuity set a $34.00 target price on shares of Mallinckrodt and gave the company a “hold” rating in a report on Sunday, August 19th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $42.00 target price on shares of Mallinckrodt in a report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.62.
MNK stock opened at $30.50 on Friday. Mallinckrodt PLC has a 12 month low of $11.65 and a 12 month high of $39.05. The firm has a market capitalization of $2.66 billion, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.57. The company has a quick ratio of 2.06, a current ratio of 2.27 and a debt-to-equity ratio of 0.98.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.48 by $0.30. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The firm had revenue of $631.70 million during the quarter, compared to the consensus estimate of $621.15 million. equities research analysts forecast that Mallinckrodt PLC will post 6.7 earnings per share for the current fiscal year.
Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.
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