Mallinckrodt PLC (NYSE:MNK) Shares Bought by Parallel Advisors LLC

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Parallel Advisors LLC increased its stake in Mallinckrodt PLC (NYSE:MNK) by 1,239.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the company’s stock after purchasing an additional 2,776 shares during the period. Parallel Advisors LLC’s holdings in Mallinckrodt were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MNK. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Mallinckrodt in the 1st quarter worth approximately $47,464,000. Dimensional Fund Advisors LP boosted its stake in Mallinckrodt by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after purchasing an additional 840,414 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Mallinckrodt by 75.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 700,000 shares of the company’s stock worth $6,426,000 after purchasing an additional 300,000 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Mallinckrodt in the 1st quarter worth approximately $3,587,000. Finally, Bank of Montreal Can boosted its stake in Mallinckrodt by 1,261.6% in the 1st quarter. Bank of Montreal Can now owns 153,607 shares of the company’s stock worth $3,339,000 after purchasing an additional 142,326 shares in the last quarter.

MNK traded down $0.06 during trading on Wednesday, reaching $3.56. 31,131 shares of the company’s stock were exchanged, compared to its average volume of 5,011,273. Mallinckrodt PLC has a 1 year low of $3.49 and a 1 year high of $35.89. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.57. The stock has a market capitalization of $358.72 million, a P/E ratio of 0.44, a price-to-earnings-growth ratio of 0.04 and a beta of 2.29. The company’s fifty day simple moving average is $6.15 and its 200-day simple moving average is $14.08.

Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.43. The firm had revenue of $823.30 million during the quarter, compared to analyst estimates of $817.55 million. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. Equities analysts forecast that Mallinckrodt PLC will post 8.48 EPS for the current year.

A number of research firms recently commented on MNK. Cantor Fitzgerald set a $18.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Friday, July 12th. Wells Fargo & Co lowered their target price on shares of Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. BMO Capital Markets set a $19.00 price target on shares of Mallinckrodt and gave the stock a “buy” rating in a research report on Wednesday, August 7th. SunTrust Banks reduced their price target on shares of Mallinckrodt to $7.00 and set a “positive” rating for the company in a research report on Monday, August 12th. Finally, Mizuho reduced their price target on shares of Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Mallinckrodt currently has a consensus rating of “Hold” and an average price target of $14.06.

In other news, CFO Bryan M. Reasons bought 5,400 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $8.96 per share, with a total value of $48,384.00. Following the acquisition, the chief financial officer now directly owns 17,979 shares in the company, valued at $161,091.84. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is owned by insiders.

Mallinckrodt Company Profile

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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