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.
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.
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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