Royce & Associates LP Has $31.35 Million Stake in Mallinckrodt PLC (MNK)

Royce & Associates LP decreased its position in shares of Mallinckrodt PLC (NYSE:MNK) by 21.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,069,501 shares of the company’s stock after selling 294,800 shares during the quarter. Royce & Associates LP owned 1.28% of Mallinckrodt worth $31,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of Mallinckrodt during the 3rd quarter worth approximately $586,000. Bank of New York Mellon Corp grew its stake in Mallinckrodt by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,093,463 shares of the company’s stock valued at $20,404,000 after acquiring an additional 32,427 shares during the period. Dorsey Wright & Associates acquired a new stake in Mallinckrodt in the 3rd quarter valued at $1,558,000. Chicago Equity Partners LLC acquired a new stake in Mallinckrodt in the 2nd quarter valued at $575,000. Finally, Janus Henderson Group PLC acquired a new stake in Mallinckrodt in the 2nd quarter valued at $237,000.

NYSE MNK opened at $23.79 on Friday. Mallinckrodt PLC has a 52 week low of $11.65 and a 52 week high of $36.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.05 and a current ratio of 2.21. The firm has a market cap of $1.97 billion, a PE ratio of 3.18, a P/E/G ratio of 0.31 and a beta of 1.71.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.79 by $0.31. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 EPS. Sell-side analysts expect that Mallinckrodt PLC will post 7.09 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, August 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 price target on shares of Mallinckrodt in a research note on Wednesday, August 8th. Canaccord Genuity set a $34.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Sunday, August 19th. Wells Fargo & Co set a $30.00 price target on shares of Mallinckrodt and gave the company a “market perform” rating in a research note on Wednesday, August 8th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $42.00 price target on shares of Mallinckrodt in a research note on Tuesday, August 7th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.56.

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About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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