Mallinckrodt PLC (NYSE:MNK) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in shares of Mallinckrodt PLC (NYSE:MNK) by 124.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,067 shares of the company’s stock after purchasing an additional 72,149 shares during the quarter. Nordea Investment Management AB owned 0.16% of Mallinckrodt worth $2,055,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Mallinckrodt by 34.1% during the 3rd quarter. Wells Fargo & Company MN now owns 389,461 shares of the company’s stock valued at $11,415,000 after buying an additional 98,998 shares during the period. Alliancebernstein L.P. lifted its stake in Mallinckrodt by 75.4% in the third quarter. Alliancebernstein L.P. now owns 227,821 shares of the company’s stock valued at $6,677,000 after acquiring an additional 97,910 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Mallinckrodt by 167.8% in the third quarter. Janus Henderson Group PLC now owns 34,025 shares of the company’s stock valued at $997,000 after acquiring an additional 21,321 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Mallinckrodt by 258.4% in the third quarter. PNC Financial Services Group Inc. now owns 28,602 shares of the company’s stock valued at $839,000 after acquiring an additional 20,622 shares during the last quarter. Finally, Martingale Asset Management L P lifted its stake in Mallinckrodt by 52.7% in the third quarter. Martingale Asset Management L P now owns 75,456 shares of the company’s stock valued at $2,212,000 after acquiring an additional 26,030 shares during the last quarter.

MNK has been the subject of a number of analyst reports. Canaccord Genuity set a $40.00 target price on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Monday, March 18th. SunTrust Banks assumed coverage on shares of Mallinckrodt in a research note on Tuesday, March 19th. They set a “hold” rating and a $23.00 price target on the stock. Morgan Stanley set a $32.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Thursday, February 28th. ValuEngine upgraded shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Mizuho lifted their price target on shares of Mallinckrodt to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $30.88.

NYSE MNK traded down $1.35 on Wednesday, hitting $20.31. 334,071 shares of the company were exchanged, compared to its average volume of 1,390,141. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 2.54, a price-to-earnings-growth ratio of 0.22 and a beta of 2.29. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 2.10. Mallinckrodt PLC has a 1-year low of $11.65 and a 1-year high of $36.65.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.20. The business had revenue of $834.90 million for the quarter, compared to the consensus estimate of $681.45 million. Mallinckrodt had a negative net margin of 134.63% and a positive return on equity of 11.14%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. On average, equities analysts expect that Mallinckrodt PLC will post 8.21 earnings per share for the current year.

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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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