Nordea Investment Management AB grew its holdings in Mallinckrodt PLC (NYSE:MNK) by 124.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 130,067 shares of the company’s stock after buying an additional 72,149 shares during the period. Nordea Investment Management AB owned 0.16% of Mallinckrodt worth $2,055,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. QS Investors LLC raised its holdings in shares of Mallinckrodt by 14.3% in the fourth quarter. QS Investors LLC now owns 4,000 shares of the company’s stock valued at $64,000 after buying an additional 500 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Mallinckrodt by 4.6% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 13,440 shares of the company’s stock worth $212,000 after purchasing an additional 594 shares in the last quarter. Martingale Asset Management L P raised its holdings in Mallinckrodt by 0.8% during the fourth quarter. Martingale Asset Management L P now owns 76,053 shares of the company’s stock worth $1,202,000 after purchasing an additional 597 shares in the last quarter. Arizona State Retirement System raised its holdings in Mallinckrodt by 1.2% during the fourth quarter. Arizona State Retirement System now owns 59,797 shares of the company’s stock worth $945,000 after purchasing an additional 714 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Mallinckrodt by 5.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 21,137 shares of the company’s stock worth $334,000 after purchasing an additional 1,091 shares in the last quarter.

Shares of Mallinckrodt stock opened at $23.58 on Wednesday. Mallinckrodt PLC has a 12-month low of $11.65 and a 12-month high of $36.65. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.51 and a quick ratio of 1.17. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 2.94, a P/E/G ratio of 0.24 and a beta of 2.29.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, February 26th. The company reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.20. Mallinckrodt had a negative net margin of 134.63% and a positive return on equity of 11.14%. The company had revenue of $834.90 million during the quarter, compared to analysts’ expectations of $681.45 million. During the same period last year, the company posted $2.01 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Mallinckrodt PLC will post 8.21 earnings per share for the current year.

Several research analysts recently issued reports on MNK shares. Mizuho reissued a “neutral” rating on shares of Mallinckrodt in a report on Monday, December 17th. B. Riley cut their price target on shares of Mallinckrodt to $21.00 and set a “neutral” rating for the company in a report on Monday, December 31st. Zacks Investment Research raised shares of Mallinckrodt from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Tuesday, January 8th. ValuEngine raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Morgan Stanley set a $32.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a report on Thursday, February 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.88.

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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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