Quantbot Technologies LP Grows Holdings in Mallinckrodt PLC (MNK)

Quantbot Technologies LP grew its stake in Mallinckrodt PLC (NYSE:MNK) by 175.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 26,144 shares of the company’s stock after buying an additional 16,652 shares during the quarter. Quantbot Technologies LP’s holdings in Mallinckrodt were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MNK. Bank of Montreal Can lifted its holdings in shares of Mallinckrodt by 209.3% in the 2nd quarter. Bank of Montreal Can now owns 63,822 shares of the company’s stock worth $1,189,000 after acquiring an additional 43,190 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Mallinckrodt by 128.1% in the 2nd quarter. Aperio Group LLC now owns 196,129 shares of the company’s stock worth $3,660,000 after acquiring an additional 110,146 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Mallinckrodt by 57.1% in the 2nd quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock worth $28,922,000 after acquiring an additional 563,419 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Mallinckrodt by 340.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 83,900 shares of the company’s stock worth $1,566,000 after acquiring an additional 64,830 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Mallinckrodt in the 2nd quarter worth approximately $418,000.

NYSE:MNK opened at $23.14 on Thursday. Mallinckrodt PLC has a 52 week low of $11.65 and a 52 week high of $36.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.21 and a quick ratio of 2.05. The firm has a market cap of $1.93 billion, a P/E ratio of 3.09, a PEG ratio of 0.31 and a beta of 1.61.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.31. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.38 million. During the same period in the prior year, the business posted $1.97 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts expect that Mallinckrodt PLC will post 7.09 EPS for the current fiscal year.

MNK has been the subject of a number of recent research reports. Canaccord Genuity restated a “hold” rating and issued a $22.00 price objective on shares of Mallinckrodt in a report on Monday, August 13th. Mizuho restated a “hold” rating and issued a $27.00 price objective on shares of Mallinckrodt in a report on Tuesday, November 6th. Berenberg Bank set a $23.00 price objective on shares of Mallinckrodt and gave the stock a “sell” rating in a report on Wednesday, November 7th. Zacks Investment Research lowered shares of Mallinckrodt from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Mallinckrodt currently has an average rating of “Hold” and an average target price of $33.56.

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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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