Gabelli Funds LLC lessened its stake in Mallinckrodt PLC (NYSE:MNK) by 68.6% in the 4th quarter, HoldingsChannel reports. The fund owned 58,349 shares of the company’s stock after selling 127,651 shares during the period. Gabelli Funds LLC’s holdings in Mallinckrodt were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aperio Group LLC boosted its stake in Mallinckrodt by 115.2% in the fourth quarter. Aperio Group LLC now owns 125,589 shares of the company’s stock valued at $2,833,000 after acquiring an additional 67,227 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in shares of Mallinckrodt during the fourth quarter worth about $231,000. Engineers Gate Manager LP boosted its stake in shares of Mallinckrodt by 74.2% during the fourth quarter. Engineers Gate Manager LP now owns 65,564 shares of the company’s stock worth $1,479,000 after buying an additional 27,931 shares during the period. LSV Asset Management boosted its stake in shares of Mallinckrodt by 24.8% during the fourth quarter. LSV Asset Management now owns 2,621,917 shares of the company’s stock worth $59,150,000 after buying an additional 520,697 shares during the period. Finally, LMR Partners LLP acquired a new stake in shares of Mallinckrodt during the fourth quarter worth about $2,630,000. Institutional investors own 97.38% of the company’s stock.

MNK has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “buy” rating and set a $52.00 target price on shares of Mallinckrodt in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Oppenheimer reiterated a “market perform” rating on shares of Mallinckrodt in a research note on Wednesday, November 22nd. Citigroup downgraded shares of Mallinckrodt from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $28.00 in a research note on Tuesday, November 7th. Finally, BMO Capital Markets decreased their target price on shares of Mallinckrodt to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.10.

In other news, Director Dr Kneeland Youngblood purchased 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the acquisition, the director now directly owns 19,789 shares of the company’s stock, valued at approximately $434,170.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Mallinckrodt PLC (MNK) opened at $16.15 on Thursday. The stock has a market cap of $1,530.00, a PE ratio of -807.50, a P/E/G ratio of 0.31 and a beta of 1.04. Mallinckrodt PLC has a 1-year low of $15.27 and a 1-year high of $55.32. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

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Mallinckrodt 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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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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