Russell Investments Group Ltd. Sells 16,552 Shares of Mallinckrodt PLC (MNK)

Russell Investments Group Ltd. lessened its holdings in shares of Mallinckrodt PLC (NYSE:MNK) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 118,967 shares of the company’s stock after selling 16,552 shares during the period. Russell Investments Group Ltd. owned 0.12% of Mallinckrodt worth $4,446,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MNK. Municipal Employees Retirement System of Michigan raised its stake in Mallinckrodt by 24.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after buying an additional 1,110 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Mallinckrodt by 7.6% during the second quarter. Great West Life Assurance Co. Can now owns 91,049 shares of the company’s stock worth $4,074,000 after buying an additional 6,444 shares during the last quarter. Sei Investments Co. raised its stake in Mallinckrodt by 237.7% during the second quarter. Sei Investments Co. now owns 19,557 shares of the company’s stock worth $876,000 after buying an additional 13,765 shares during the last quarter. Retirement Systems of Alabama raised its stake in Mallinckrodt by 10.3% during the second quarter. Retirement Systems of Alabama now owns 153,397 shares of the company’s stock worth $6,874,000 after buying an additional 14,315 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Mallinckrodt by 9.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 405,655 shares of the company’s stock worth $18,178,000 after buying an additional 35,431 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

In other Mallinckrodt news, CEO Mark Trudeau purchased 5,000 shares of the stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $22.28 per share, with a total value of $111,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dr Kneeland Youngblood purchased 4,560 shares of the stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the transaction, the director now owns 19,789 shares of the company’s stock, valued at $434,170.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 30,460 shares of company stock worth $659,486. 0.77% of the stock is owned by corporate insiders.

Shares of Mallinckrodt PLC (NYSE:MNK) traded down $0.41 during midday trading on Thursday, hitting $23.45. 879,526 shares of the stock were exchanged, compared to its average volume of 2,592,040. The firm has a market capitalization of $2,285.82, a PE ratio of 3.25, a P/E/G ratio of 0.44 and a beta of 1.30. Mallinckrodt PLC has a 52-week low of $19.00 and a 52-week high of $55.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The business had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. During the same period in the previous year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. research analysts forecast that Mallinckrodt PLC will post 7.2 EPS for the current year.

A number of equities analysts recently weighed in on the stock. Barclays set a $23.00 target price on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Tuesday. Cantor Fitzgerald set a $52.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, October 2nd. Morgan Stanley lowered their target price on shares of Mallinckrodt from $40.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. ValuEngine raised shares of Mallinckrodt from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BMO Capital Markets lowered their target price on shares of Mallinckrodt to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.14.

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Mallinckrodt Company Profile

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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