Bank of Montreal Can Increases Position in Mallinckrodt PLC (MNK)

Bank of Montreal Can boosted its position in shares of Mallinckrodt PLC (NYSE:MNK) by 1,261.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,607 shares of the company’s stock after buying an additional 142,326 shares during the quarter. Bank of Montreal Can’s holdings in Mallinckrodt were worth $3,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Mallinckrodt by 6.6% during the fourth quarter. BlackRock Inc. now owns 10,180,933 shares of the company’s stock valued at $160,858,000 after buying an additional 628,445 shares in the last quarter. Vanguard Group Inc. boosted its stake in Mallinckrodt by 2.4% during the third quarter. Vanguard Group Inc. now owns 7,597,447 shares of the company’s stock valued at $222,681,000 after buying an additional 174,836 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Mallinckrodt by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after buying an additional 840,414 shares in the last quarter. LSV Asset Management boosted its stake in Mallinckrodt by 21.1% during the fourth quarter. LSV Asset Management now owns 4,090,968 shares of the company’s stock valued at $64,637,000 after buying an additional 713,709 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Mallinckrodt by 12.3% during the fourth quarter. Northern Trust Corp now owns 1,735,672 shares of the company’s stock valued at $27,424,000 after buying an additional 190,389 shares in the last quarter.

NYSE:MNK opened at $15.32 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.45 and a quick ratio of 1.17. Mallinckrodt PLC has a 1-year low of $13.45 and a 1-year high of $36.65. The firm has a market capitalization of $1.27 billion, a P/E ratio of 1.91, a P/E/G ratio of 0.16 and a beta of 2.12.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.21. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. The business had revenue of $791.00 million during the quarter, compared to analyst estimates of $766.27 million. During the same quarter last year, the company posted $1.31 EPS. Mallinckrodt’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Mallinckrodt PLC will post 8.38 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. SunTrust Banks set a $20.00 target price on Mallinckrodt and gave the company a “hold” rating in a research note on Tuesday. ValuEngine lowered Mallinckrodt from a “sell” rating to a “strong sell” rating in a research report on Monday. Canaccord Genuity set a $40.00 price target on Mallinckrodt and gave the company a “buy” rating in a research report on Monday, March 18th. Mizuho increased their price target on Mallinckrodt to $26.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Finally, Morgan Stanley set a $32.00 price target on Mallinckrodt and gave the company a “hold” rating in a research report on Thursday, February 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.69.

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About Mallinckrodt

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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