Cubist Systematic Strategies LLC Has $299,000 Stake in Mallinckrodt PLC (MNK)

Cubist Systematic Strategies LLC grew its position in Mallinckrodt PLC (NYSE:MNK) by 748.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,989 shares of the company’s stock after purchasing an additional 7,047 shares during the period. Cubist Systematic Strategies LLC’s holdings in Mallinckrodt were worth $299,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC purchased a new stake in shares of Mallinckrodt in the second quarter valued at about $204,000. Pinnacle Associates Ltd. increased its holdings in Mallinckrodt by 69.8% during the third quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock worth $300,000 after buying an additional 3,300 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Mallinckrodt during the third quarter worth about $305,000. LS Investment Advisors LLC increased its holdings in Mallinckrodt by 27.1% during the third quarter. LS Investment Advisors LLC now owns 9,517 shares of the company’s stock worth $356,000 after buying an additional 2,028 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Mallinckrodt during the second quarter worth about $423,000. Institutional investors own 97.35% of the company’s stock.

Mallinckrodt PLC (NYSE:MNK) opened at $22.90 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The firm has a market cap of $2,180.00, a PE ratio of -1,145.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.30. Mallinckrodt PLC has a 1 year low of $19.00 and a 1 year high of $55.32.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.17. The firm had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.04 earnings per share. sell-side analysts expect that Mallinckrodt PLC will post 7.21 EPS for the current fiscal year.

In other Mallinckrodt news, VP Steven J. Romano bought 2,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $21.96 per share, for a total transaction of $43,920.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael-Bryant Hicks bought 7,900 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $20.80 per share, with a total value of $164,320.00. The disclosure for this purchase can be found here. Insiders have acquired 30,460 shares of company stock valued at $659,486 in the last quarter. Company insiders own 0.77% of the company’s stock.

A number of analysts recently issued reports on MNK shares. Mizuho downgraded shares of Mallinckrodt from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $70.00 to $40.00 in a report on Wednesday, September 13th. Citigroup decreased their price objective on shares of Mallinckrodt to $45.00 and set a “buy” rating for the company in a report on Thursday, September 14th. Deutsche Bank restated a “buy” rating and set a $45.00 price objective (down previously from $56.00) on shares of Mallinckrodt in a report on Thursday, September 14th. Piper Jaffray Companies restated a “buy” rating and set a $67.00 price objective on shares of Mallinckrodt in a report on Friday, September 15th. Finally, Oppenheimer decreased their price objective on shares of Mallinckrodt from $70.00 to $48.00 in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.94.

WARNING: This piece of content was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.com-unik.info/2018/01/06/cubist-systematic-strategies-llc-has-299000-stake-in-mallinckrodt-plc-mnk.html.

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.

Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

What are top analysts saying about Mallinckrodt? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Mallinckrodt and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit