47,179 Shares in Mallinckrodt PLC (MNK) Acquired by Fox Run Management L.L.C.
Fox Run Management L.L.C. acquired a new position in shares of Mallinckrodt PLC (NYSE:MNK) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 47,179 shares of the company’s stock, valued at approximately $1,064,000.
Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Mallinckrodt by 150.1% in the 4th quarter. Acadian Asset Management LLC now owns 182,977 shares of the company’s stock worth $4,128,000 after buying an additional 109,803 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Mallinckrodt by 9.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 476,072 shares of the company’s stock worth $10,741,000 after buying an additional 42,509 shares during the last quarter. Shelton Capital Management bought a new position in shares of Mallinckrodt in the 3rd quarter worth about $205,000. Ameritas Investment Partners Inc. lifted its position in shares of Mallinckrodt by 1,051.7% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 29,655 shares of the company’s stock worth $1,218,000 after buying an additional 27,080 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Mallinckrodt by 11.4% in the 3rd quarter. California Public Employees Retirement System now owns 263,970 shares of the company’s stock worth $9,865,000 after buying an additional 26,970 shares during the last quarter.
A number of research analysts have recently issued reports on MNK shares. Goldman Sachs Group started coverage on shares of Mallinckrodt in a research report on Thursday, September 28th. They issued a “buy” rating and a $55.00 price target on the stock. Cantor Fitzgerald set a $52.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday, October 2nd. ValuEngine upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Canaccord Genuity downgraded shares of Mallinckrodt from a “buy” rating to a “hold” rating and cut their price objective for the company from $77.00 to $40.00 in a research report on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $67.00 price objective on shares of Mallinckrodt in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. Mallinckrodt presently has a consensus rating of “Hold” and an average target price of $44.99.
Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. Mallinckrodt’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. equities research analysts forecast that Mallinckrodt PLC will post 7.2 earnings per share for the current year.
In related news, CEO Mark Trudeau bought 5,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $22.28 per share, with a total value of $111,400.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael-Bryant Hicks bought 7,900 shares of the stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $20.80 per share, for a total transaction of $164,320.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 30,460 shares of company stock worth $659,486. 0.77% of the stock is owned by corporate 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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