Systematic Financial Management LP Buys Shares of 39,810 Mallinckrodt PLC (MNK)

Systematic Financial Management LP bought a new position in Mallinckrodt PLC (NYSE:MNK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 39,810 shares of the company’s stock, valued at approximately $1,167,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Mallinckrodt by 19.1% in the second quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock valued at $180,057,000 after purchasing an additional 1,546,671 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Mallinckrodt by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,422,787 shares of the company’s stock valued at $82,531,000 after purchasing an additional 345,385 shares during the period. Miller Value Partners LLC lifted its stake in shares of Mallinckrodt by 57.5% in the second quarter. Miller Value Partners LLC now owns 3,338,025 shares of the company’s stock valued at $62,288,000 after purchasing an additional 1,218,750 shares during the period. LSV Asset Management lifted its stake in shares of Mallinckrodt by 1.8% in the second quarter. LSV Asset Management now owns 2,675,154 shares of the company’s stock valued at $49,918,000 after purchasing an additional 48,437 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Mallinckrodt by 57.1% in the second quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock valued at $28,922,000 after purchasing an additional 563,419 shares during the period.

Several brokerages recently commented on MNK. B. Riley raised their price objective on shares of Mallinckrodt from $20.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, August 27th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 22nd. Canaccord Genuity set a $34.00 target price on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Sunday, August 19th. Finally, Morgan Stanley lifted their target price on shares of Mallinckrodt from $14.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Mallinckrodt currently has a consensus rating of “Hold” and an average target price of $33.00.

Shares of NYSE MNK opened at $26.30 on Thursday. The stock has a market cap of $2.33 billion, a PE ratio of 3.51, a PEG ratio of 0.37 and a beta of 1.71. Mallinckrodt PLC has a 12 month low of $11.65 and a 12 month high of $36.65. The company has a quick ratio of 2.05, a current ratio of 2.21 and a debt-to-equity ratio of 0.93.

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

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Mallinckrodt Company Profile

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.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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