Xact Kapitalforvaltning AB Takes Position in Mallinckrodt PLC (NYSE:MNK)

Xact Kapitalforvaltning AB acquired a new stake in Mallinckrodt PLC (NYSE:MNK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,100 shares of the company’s stock, valued at approximately $185,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Mallinckrodt by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after acquiring an additional 840,414 shares during the period. LSV Asset Management boosted its position in shares of Mallinckrodt by 1.4% in the first quarter. LSV Asset Management now owns 4,149,268 shares of the company’s stock valued at $90,205,000 after acquiring an additional 58,300 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Mallinckrodt in the first quarter valued at approximately $47,464,000. Norges Bank bought a new stake in shares of Mallinckrodt in the fourth quarter valued at approximately $26,615,000. Finally, Deutsche Bank AG boosted its position in shares of Mallinckrodt by 54.9% in the fourth quarter. Deutsche Bank AG now owns 1,378,040 shares of the company’s stock valued at $21,771,000 after acquiring an additional 488,140 shares during the period.

MNK stock traded up $0.07 during midday trading on Tuesday, hitting $6.70. The stock had a trading volume of 42,056 shares, compared to its average volume of 2,640,415. The firm has a market capitalization of $555.66 million, a price-to-earnings ratio of 0.84, a price-to-earnings-growth ratio of 0.07 and a beta of 2.33. Mallinckrodt PLC has a 52 week low of $6.07 and a 52 week high of $36.65. The stock’s 50-day simple moving average is $8.40. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, May 7th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.73 by $0.21. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. The firm had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $766.27 million. During the same period last year, the business earned $1.31 earnings per share. Mallinckrodt’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Mallinckrodt PLC will post 8.21 earnings per share for the current fiscal year.

In related news, CFO Bryan M. Reasons acquired 5,400 shares of the company’s stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $8.96 per share, for a total transaction of $48,384.00. Following the completion of the purchase, the chief financial officer now directly owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have acquired 8,400 shares of company stock valued at $83,234 over the last quarter. Corporate insiders own 2.70% of the company’s stock.

Several research firms have recently weighed in on MNK. BMO Capital Markets reissued an “outperform” rating and issued a $23.00 price objective on shares of Mallinckrodt in a research report on Wednesday, May 22nd. Wells Fargo & Co set a $29.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 6th. Canaccord Genuity reduced their target price on Mallinckrodt from $37.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Cantor Fitzgerald set a $18.00 target price on Mallinckrodt and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Mizuho reduced their target price on Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.56.

Mallinckrodt Profile

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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