Dimensional Fund Advisors LP lifted its position in Mallinckrodt PLC (NYSE:MNK) by 24.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,516,703 shares of the company’s stock after purchasing an additional 1,093,916 shares during the quarter. Dimensional Fund Advisors LP owned 6.62% of Mallinckrodt worth $161,694,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in Mallinckrodt in the third quarter valued at $586,000. Bank of New York Mellon Corp grew its holdings in shares of Mallinckrodt by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 1,093,463 shares of the company’s stock worth $20,404,000 after purchasing an additional 32,427 shares during the last quarter. Dorsey Wright & Associates bought a new stake in shares of Mallinckrodt during the third quarter worth $1,558,000. Chicago Equity Partners LLC bought a new stake in shares of Mallinckrodt during the second quarter worth $575,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Mallinckrodt during the second quarter worth $237,000.
Shares of MNK opened at $23.79 on Monday. The company has a current ratio of 2.21, a quick ratio of 2.05 and a debt-to-equity ratio of 0.93. Mallinckrodt PLC has a 12-month low of $11.65 and a 12-month high of $36.65. The firm has a market cap of $1.98 billion, a PE ratio of 3.18, a PEG ratio of 0.31 and a beta of 1.71.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.31. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.38 million. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that Mallinckrodt PLC will post 7.09 EPS for the current fiscal year.
MNK has been the topic of several research analyst reports. Goldman Sachs Group cut Mallinckrodt from a “neutral” rating to a “sell” rating and increased their target price for the stock from $27.00 to $28.00 in a report on Tuesday, September 11th. Zacks Investment Research cut Mallinckrodt from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Wells Fargo & Co set a $27.00 target price on Mallinckrodt and gave the stock a “hold” rating in a report on Tuesday, November 6th. Berenberg Bank initiated coverage on Mallinckrodt in a report on Friday, September 14th. They set a “sell” rating and a $25.00 target price on the stock. Finally, B. Riley increased their target price on Mallinckrodt from $20.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.56.
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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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