Mallinckrodt PLC (NYSE:MNK) Stake Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in Mallinckrodt PLC (NYSE:MNK) by 748.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,989 shares of the company’s stock after buying an additional 7,047 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Mallinckrodt were worth $299,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC acquired a new stake in Mallinckrodt in the 2nd quarter worth $204,000. Pinnacle Associates Ltd. boosted its position in shares of Mallinckrodt by 69.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock valued at $300,000 after acquiring an additional 3,300 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Mallinckrodt during the 3rd quarter valued at about $305,000. LS Investment Advisors LLC boosted its position in shares of Mallinckrodt by 27.1% during the 3rd quarter. LS Investment Advisors LLC now owns 9,517 shares of the company’s stock valued at $356,000 after acquiring an additional 2,028 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Mallinckrodt during the 2nd quarter valued at about $423,000. Institutional investors own 97.35% of the company’s stock.

In other news, CEO Mark Trudeau purchased 5,000 shares of the stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $22.28 per share, for a total transaction of $111,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dr Kneeland Youngblood purchased 4,560 shares of the stock in a transaction on Tuesday, November 28th. The shares were purchased at an average price of $21.94 per share, with a total value of $100,046.40. Following the acquisition, the director now owns 19,789 shares in the company, valued at approximately $434,170.66. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 30,460 shares of company stock valued at $659,486. 0.77% of the stock is owned by company insiders.

Shares of Mallinckrodt PLC (NYSE:MNK) traded up $0.60 during trading on Friday, reaching $23.50. 2,490,375 shares of the company’s stock were exchanged, compared to its average volume of 2,620,872. Mallinckrodt PLC has a 12-month low of $19.00 and a 12-month high of $55.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The firm has a market capitalization of $2,175.61, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 0.43 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. research analysts forecast that Mallinckrodt PLC will post 7.21 earnings per share for the current year.

Several equities analysts recently issued reports on MNK shares. Oppenheimer cut their price target on shares of Mallinckrodt from $70.00 to $48.00 in a report on Tuesday, September 19th. Piper Jaffray Companies set a $67.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Saturday, October 21st. ValuEngine raised shares of Mallinckrodt from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Cantor Fitzgerald set a $52.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, October 2nd. Finally, Goldman Sachs Group started coverage on shares of Mallinckrodt in a research note on Thursday, September 28th. They set a “buy” rating and a $55.00 price target for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.99.

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Mallinckrodt Company Profile

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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