Alps Advisors Inc. Boosts Position in Mallinckrodt (MNK)

Alps Advisors Inc. boosted its stake in Mallinckrodt (NYSE:MNK) by 160.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,751 shares of the company’s stock after acquiring an additional 17,099 shares during the quarter. Alps Advisors Inc.’s holdings in Mallinckrodt were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in Mallinckrodt in the 4th quarter valued at $129,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Mallinckrodt in the 4th quarter valued at $190,000. Sciencast Management LP acquired a new stake in Mallinckrodt in the 4th quarter valued at $210,000. CIBC World Markets Inc. acquired a new stake in Mallinckrodt in the 4th quarter valued at $231,000. Finally, NuWave Investment Management LLC increased its stake in Mallinckrodt by 5,538.7% in the 1st quarter. NuWave Investment Management LLC now owns 15,168 shares of the company’s stock valued at $218,000 after buying an additional 14,899 shares during the last quarter.

In other news, insider James E. Flynn sold 312,928 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $13.39, for a total transaction of $4,190,105.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Several equities research analysts have issued reports on MNK shares. Leerink Swann lowered their price target on shares of Mallinckrodt and set a “market perform” rating on the stock in a research note on Monday, April 23rd. ValuEngine lowered shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Wells Fargo reiterated a “hold” rating on shares of Mallinckrodt in a research note on Thursday, April 12th. SunTrust Banks started coverage on shares of Mallinckrodt in a research note on Wednesday, April 11th. They issued a “hold” rating and a $15.00 price target on the stock. Finally, Oppenheimer reiterated a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.26.

Mallinckrodt stock opened at $16.07 on Friday. The stock has a market cap of $1.30 billion, a PE ratio of 2.15, a PEG ratio of 0.36 and a beta of 1.13. Mallinckrodt has a fifty-two week low of $14.84 and a fifty-two week high of $15.96. The company has a current ratio of 2.10, a quick ratio of 1.90 and a debt-to-equity ratio of 1.00.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, May 8th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.23. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $568.78 million. Mallinckrodt had a net margin of 57.56% and a return on equity of 11.59%. Mallinckrodt’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. research analysts expect that Mallinckrodt will post 6.26 EPS for the current fiscal year.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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