Hartford Investment Management Co. lessened its stake in Mallinckrodt PLC (NYSE:MNK) by 70.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,557 shares of the company’s stock after selling 20,450 shares during the quarter. Hartford Investment Management Co.’s holdings in Mallinckrodt were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MNK. Schwab Charles Investment Management Inc. boosted its holdings in Mallinckrodt by 6.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 433,563 shares of the company’s stock worth $16,203,000 after purchasing an additional 27,908 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Mallinckrodt by 92.1% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,176 shares of the company’s stock worth $530,000 after purchasing an additional 6,795 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in Mallinckrodt by 82.2% during the third quarter. Achmea Investment Management B.V. now owns 12,877 shares of the company’s stock worth $481,000 after purchasing an additional 5,810 shares during the last quarter. Legal & General Group Plc boosted its holdings in Mallinckrodt by 1.3% during the third quarter. Legal & General Group Plc now owns 548,195 shares of the company’s stock worth $20,484,000 after purchasing an additional 7,165 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Mallinckrodt by 16.0% during the third quarter. Great West Life Assurance Co. Can now owns 105,637 shares of the company’s stock worth $3,815,000 after purchasing an additional 14,588 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Several research analysts recently commented on the stock. ValuEngine upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Mallinckrodt from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Morgan Stanley cut shares of Mallinckrodt from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $65.00 to $40.00 in a report on Wednesday, September 6th. Mizuho restated a “hold” rating and set a $40.00 target price on shares of Mallinckrodt in a report on Sunday, October 15th. Finally, Deutsche Bank cut shares of Mallinckrodt from a “buy” rating to a “hold” rating and reduced their target price for the stock from $44.00 to $28.00 in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Mallinckrodt presently has a consensus rating of “Hold” and a consensus target price of $48.14.

In other news, Director David R. Carlucci purchased 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $21.83 per share, with a total value of $218,300.00. Following the completion of the transaction, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Steven J. Romano acquired 2,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. Insiders have acquired 30,460 shares of company stock worth $659,486 over the last ninety days. Insiders own 0.53% of the company’s stock.

Mallinckrodt PLC (NYSE MNK) traded down $0.23 during midday trading on Wednesday, reaching $21.73. 2,859,200 shares of the company’s stock traded hands, compared to its average volume of 2,584,930. 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 PLC has a 1 year low of $19.00 and a 1 year high of $55.32. The company has a market capitalization of $2,086.31, a price-to-earnings ratio of 2.96, a P/E/G ratio of 0.40 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $793.90 million for the quarter, compared to analyst estimates of $808.93 million. During the same period in the prior year, the firm posted $2.04 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. sell-side analysts expect that Mallinckrodt PLC will post 7.2 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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