Meadow Creek Investment Management LLC Has $423,000 Stake in Mallinckrodt (MNK)

Meadow Creek Investment Management LLC cut its position in Mallinckrodt (NYSE:MNK) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,732 shares of the company’s stock after selling 18,648 shares during the period. Meadow Creek Investment Management LLC’s holdings in Mallinckrodt were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MNK. Nationwide Fund Advisors increased its stake in shares of Mallinckrodt by 292.1% in the third quarter. Nationwide Fund Advisors now owns 185,877 shares of the company’s stock worth $6,946,000 after purchasing an additional 138,472 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Mallinckrodt by 167.1% in the third quarter. Principal Financial Group Inc. now owns 413,881 shares of the company’s stock worth $15,467,000 after purchasing an additional 258,946 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Mallinckrodt by 4.6% in the third quarter. New York State Common Retirement Fund now owns 221,000 shares of the company’s stock worth $8,259,000 after purchasing an additional 9,800 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mallinckrodt by 46.6% in the third quarter. Bank of New York Mellon Corp now owns 1,169,575 shares of the company’s stock worth $43,708,000 after purchasing an additional 371,959 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Mallinckrodt by 226.9% in the third quarter. Comerica Bank now owns 76,204 shares of the company’s stock worth $2,349,000 after purchasing an additional 52,894 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

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Mallinckrodt (MNK) opened at $13.94 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.85 and a current ratio of 2.18. Mallinckrodt has a 12-month low of $13.81 and a 12-month high of $49.12. The firm has a market cap of $1,203.72, a price-to-earnings ratio of 1.86, a P/E/G ratio of 0.35 and a beta of 1.06.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.29. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. The firm had revenue of $792.30 million during the quarter, compared to analyst estimates of $769.91 million. During the same quarter in the prior year, the business earned $1.91 earnings per share. Mallinckrodt’s revenue for the quarter was down 4.5% on a year-over-year basis. analysts expect that Mallinckrodt will post 6.2 EPS for the current year.

A number of brokerages have recently issued reports on MNK. Wells Fargo set a $18.00 price objective on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Friday, March 16th. Mizuho reissued a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of Mallinckrodt in a research note on Friday, March 9th. Canaccord Genuity set a $20.00 price objective on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Oppenheimer reissued a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald set a $42.00 price objective on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.50.

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Mallinckrodt Profile

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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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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