South Dakota Investment Council cut its position in Mallinckrodt PLC (NYSE:MNK) by 92.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,800 shares of the company’s stock after selling 123,641 shares during the period. South Dakota Investment Council’s holdings in Mallinckrodt were worth $99,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MNK. Dimensional Fund Advisors LP grew its holdings in Mallinckrodt by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after acquiring an additional 840,414 shares during the period. Geode Capital Management LLC grew its holdings in Mallinckrodt by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 955,305 shares of the company’s stock valued at $15,093,000 after purchasing an additional 62,168 shares during the period. Rhumbline Advisers grew its holdings in Mallinckrodt by 0.8% in the first quarter. Rhumbline Advisers now owns 267,983 shares of the company’s stock valued at $5,826,000 after purchasing an additional 2,019 shares during the period. Texas Permanent School Fund grew its holdings in Mallinckrodt by 4.0% in the first quarter. Texas Permanent School Fund now owns 56,699 shares of the company’s stock valued at $1,233,000 after purchasing an additional 2,180 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in Mallinckrodt in the first quarter valued at approximately $207,000.

Several analysts have commented on the company. Berenberg Bank reissued a “sell” rating and issued a $5.00 price objective (down from $10.00) on shares of Mallinckrodt in a report on Tuesday, May 21st. Stifel Nicolaus dropped their price objective on Mallinckrodt from $20.00 to $8.00 and set a “hold” rating on the stock in a report on Monday. ValuEngine raised Mallinckrodt from a “hold” rating to a “buy” rating in a report on Tuesday. Canaccord Genuity dropped their price objective on Mallinckrodt from $37.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Leerink Swann set a $2.00 price objective on Mallinckrodt and gave the company a “hold” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $10.19.

Shares of NYSE MNK traded up $0.13 during midday trading on Friday, hitting $3.12. The stock had a trading volume of 214,444 shares, compared to its average volume of 11,905,633. The company has a market capitalization of $325.95 million, a PE ratio of 0.39, a P/E/G ratio of 0.04 and a beta of 2.42. The stock has a 50 day simple moving average of $4.57 and a 200-day simple moving average of $12.66. Mallinckrodt PLC has a 1 year low of $1.43 and a 1 year high of $32.50. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, beating the 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 business had revenue of $823.30 million for the quarter, compared to the consensus estimate of $817.55 million. During the same quarter last year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Mallinckrodt PLC will post 8.48 earnings per share for the current fiscal year.

Mallinckrodt Company 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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