Robeco Institutional Asset Management B.V. Cuts Stock Position in Mallinckrodt PLC (NYSE:MNK)

Robeco Institutional Asset Management B.V. lowered its stake in Mallinckrodt PLC (NYSE:MNK) by 88.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,771 shares of the company’s stock after selling 99,161 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Mallinckrodt were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. bought a new position in Mallinckrodt in the 2nd quarter worth $157,000. Xact Kapitalforvaltning AB bought a new position in Mallinckrodt in the 2nd quarter worth $185,000. Amundi Pioneer Asset Management Inc. raised its holdings in Mallinckrodt by 126.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 40,149 shares of the company’s stock worth $873,000 after purchasing an additional 22,417 shares during the period. Nordea Investment Management AB raised its holdings in Mallinckrodt by 45.8% in the 1st quarter. Nordea Investment Management AB now owns 189,667 shares of the company’s stock worth $4,123,000 after purchasing an additional 59,600 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Mallinckrodt during the first quarter valued at about $297,000.

In other news, CFO Bryan M. Reasons bought 5,400 shares of Mallinckrodt stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $8.96 per share, with a total value of $48,384.00. Following the completion of the acquisition, the chief financial officer now owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Shares of MNK stock opened at $5.31 on Friday. Mallinckrodt PLC has a 12-month low of $5.12 and a 12-month high of $36.65. The company has a quick ratio of 1.08, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The stock has a 50-day moving average price of $7.72. The company has a market capitalization of $472.71 million, a PE ratio of 0.66, a price-to-earnings-growth ratio of 0.05 and a beta of 2.29.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The firm had revenue of $823.30 million for the quarter, compared to analysts’ expectations of $817.55 million. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that Mallinckrodt PLC will post 8.51 EPS for the current fiscal year.

MNK has been the topic of a number of recent analyst reports. Wells Fargo & Co decreased their price target on Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, June 6th. Canaccord Genuity decreased their price target on Mallinckrodt from $37.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Mizuho decreased their price target on Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Piper Jaffray Companies cut Mallinckrodt from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $39.00 to $9.00 in a report on Thursday, May 30th. Finally, SunTrust Banks set a $20.00 price target on Mallinckrodt and gave the company a “hold” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.94.

About Mallinckrodt

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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