Dimensional Fund Advisors LP Has $94.26 Million Position in Mallinckrodt PLC (MNK)

Dimensional Fund Advisors LP boosted its stake in Mallinckrodt PLC (NYSE:MNK) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,522,330 shares of the company’s stock after purchasing an additional 360,516 shares during the quarter. Dimensional Fund Advisors LP owned about 2.66% of Mallinckrodt worth $94,255,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MNK. HealthCor Management L.P. acquired a new position in Mallinckrodt in the second quarter valued at about $107,649,000. Janus Henderson Group PLC raised its stake in Mallinckrodt by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after purchasing an additional 1,376,619 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Mallinckrodt by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after purchasing an additional 1,045,757 shares in the last quarter. Prudential Financial Inc. raised its stake in Mallinckrodt by 114.9% in the third quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock valued at $51,569,000 after purchasing an additional 737,791 shares in the last quarter. Finally, AJO LP raised its stake in Mallinckrodt by 165.6% in the second quarter. AJO LP now owns 927,472 shares of the company’s stock valued at $41,560,000 after purchasing an additional 578,266 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Shares of Mallinckrodt PLC (MNK) opened at $23.57 on Friday. The firm has a market capitalization of $2,216.47, a PE ratio of 3.15, a PEG ratio of 0.42 and a beta of 1.30. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. Mallinckrodt PLC has a twelve month low of $19.00 and a twelve month high of $55.32.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 earnings per share. research analysts anticipate that Mallinckrodt PLC will post 7.2 EPS for the current year.

A number of research firms have issued reports on MNK. Barclays set a $23.00 target price on Mallinckrodt and gave the company a “hold” rating in a research report on Tuesday, December 12th. UBS cut Mallinckrodt from a “buy” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $24.00 in a research report on Sunday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of Mallinckrodt in a research report on Wednesday, November 22nd. Canaccord Genuity set a $24.00 target price on Mallinckrodt and gave the company a “hold” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus decreased their target price on Mallinckrodt from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.14.

In related news, Director Dr Kneeland Youngblood acquired 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the purchase, the director now directly owns 19,789 shares in the company, valued at $434,170.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven J. Romano acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 30,460 shares of company stock worth $659,486. Company insiders own 0.77% of the company’s stock.

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About Mallinckrodt

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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