Janney Montgomery Scott LLC lowered its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 11.2% during the second quarter, HoldingsChannel reports. The firm owned 19,548 shares of the company’s stock after selling 2,475 shares during the period. Janney Montgomery Scott LLC’s holdings in Mallinckrodt were worth $365,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MNK. Victory Capital Management Inc. acquired a new stake in Mallinckrodt during the first quarter worth approximately $104,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Mallinckrodt by 11,188.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock valued at $150,000 after acquiring an additional 10,293 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Mallinckrodt in the 1st quarter valued at $175,000. Financial Gravity Wealth Inc. acquired a new position in shares of Mallinckrodt in the 1st quarter valued at $182,000. Finally, TLP Group LLC acquired a new position in shares of Mallinckrodt in the 1st quarter valued at $208,000.

Shares of MNK opened at $34.69 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.06 and a current ratio of 2.27. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 0.48 and a beta of 1.36. Mallinckrodt PLC has a 1 year low of $11.65 and a 1 year high of $41.70.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.30. The company had revenue of $631.70 million for the quarter, compared to analysts’ expectations of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. equities research analysts expect that Mallinckrodt PLC will post 6.67 EPS for the current year.

A number of equities analysts have recently commented on the stock. Canaccord Genuity set a $34.00 target price on shares of Mallinckrodt and gave the company a “hold” rating in a report on Sunday. Wells Fargo & Co lifted their target price on shares of Mallinckrodt from $15.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, July 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.00 target price on shares of Mallinckrodt in a report on Wednesday, August 8th. Mizuho reaffirmed a “hold” rating and issued a $15.00 target price on shares of Mallinckrodt in a report on Thursday, April 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $42.00 target price on shares of Mallinckrodt in a report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.26.

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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