Gabelli Funds LLC grew its stake in Mallinckrodt PLC (NYSE:MNK) by 28.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,000 shares of the company’s stock after purchasing an additional 41,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.19% of Mallinckrodt PLC worth $6,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in shares of Mallinckrodt PLC by 15.4% in the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after buying an additional 448,011 shares in the last quarter. HealthCor Management L.P. purchased a new position in shares of Mallinckrodt PLC in the second quarter worth about $107,649,000. Dimensional Fund Advisors LP lifted its stake in shares of Mallinckrodt PLC by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,161,814 shares of the company’s stock worth $96,868,000 after buying an additional 547,249 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Mallinckrodt PLC by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after buying an additional 1,045,757 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Mallinckrodt PLC by 6,828.1% during the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after purchasing an additional 1,376,619 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

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A number of brokerages have commented on MNK. Canaccord Genuity reduced their target price on shares of Mallinckrodt PLC from $38.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Mallinckrodt PLC from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their target price on shares of Mallinckrodt PLC from $40.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday. BMO Capital Markets reduced their price target on shares of Mallinckrodt PLC to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Mallinckrodt PLC from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.44.

Shares of Mallinckrodt PLC (NYSE:MNK) opened at $21.76 on Friday. Mallinckrodt PLC has a 12-month low of $19.00 and a 12-month high of $68.12. The company has a market cap of $2,067.31, a price-to-earnings ratio of 2.94, a P/E/G ratio of 0.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 0.81.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. Mallinckrodt PLC’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 EPS. equities analysts forecast that Mallinckrodt PLC will post 7.23 earnings per share for the current year.

In related news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average cost of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company’s stock.

About Mallinckrodt PLC

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.

Institutional Ownership by Quarter for Mallinckrodt PLC (NYSE:MNK)

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