Gabelli Funds LLC trimmed its stake in Mallinckrodt PLC (NYSE:MNK) by 68.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,349 shares of the company’s stock after selling 127,651 shares during the quarter. Gabelli Funds LLC owned about 0.06% of Mallinckrodt worth $1,316,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Sterling Capital Management LLC purchased a new position in Mallinckrodt during the second quarter valued at approximately $204,000. Shelton Capital Management bought a new stake in shares of Mallinckrodt in the 3rd quarter worth approximately $205,000. State of Alaska Department of Revenue bought a new stake in shares of Mallinckrodt in the 4th quarter worth approximately $129,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Mallinckrodt by 748.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock worth $299,000 after acquiring an additional 7,047 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Mallinckrodt by 69.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock worth $300,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.
Shares of Mallinckrodt PLC (NYSE MNK) traded up $0.15 on Thursday, reaching $16.32. The company had a trading volume of 539,051 shares, compared to its average volume of 2,781,917. The company has a market capitalization of $1,550.00, a P/E ratio of -817.50, a PEG ratio of 0.31 and a beta of 1.04. Mallinckrodt PLC has a 12 month low of $15.27 and a 12 month high of $54.90. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38.
MNK has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Mallinckrodt from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Leerink Swann initiated coverage on shares of Mallinckrodt in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $26.00 target price on the stock. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research report on Monday, January 1st. Zacks Investment Research raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Goldman Sachs Group cut shares of Mallinckrodt from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.64.
In other Mallinckrodt news, Director Dr Kneeland Youngblood bought 4,560 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the transaction, the director now owns 19,789 shares in the company, valued at $434,170.66. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.77% of the stock is currently owned by company insiders.
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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.
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