Seven Eight Capital LP Purchases New Position in Mallinckrodt PLC (MNK)

Seven Eight Capital LP purchased a new position in shares of Mallinckrodt PLC (NYSE:MNK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 183,967 shares of the company’s stock, valued at approximately $5,392,000.

Other large investors also recently made changes to their positions in the company. Financial Gravity Wealth Inc. acquired a new stake in Mallinckrodt during the 1st quarter worth $182,000. Advisors Preferred LLC increased its stake in Mallinckrodt by 493.9% in the second quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock valued at $196,000 after purchasing an additional 8,742 shares during the period. Balasa Dinverno & Foltz LLC acquired a new position in Mallinckrodt in the second quarter valued at $200,000. Janus Henderson Group PLC acquired a new position in Mallinckrodt in the second quarter valued at $237,000. Finally, Verition Fund Management LLC acquired a new position in Mallinckrodt in the first quarter valued at $257,000.

A number of research analysts have commented on the stock. B. Riley lifted their price objective on shares of Mallinckrodt from $20.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, August 27th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, August 22nd. Canaccord Genuity set a $34.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Sunday, August 19th. Finally, Morgan Stanley lifted their price objective on shares of Mallinckrodt from $14.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Mallinckrodt currently has an average rating of “Hold” and an average price target of $31.30.

Shares of NYSE:MNK opened at $27.20 on Friday. The stock has a market capitalization of $2.28 billion, a PE ratio of 3.88, a PEG ratio of 0.40 and a beta of 1.60. The company has a current ratio of 2.27, a quick ratio of 2.06 and a debt-to-equity ratio of 0.98. Mallinckrodt PLC has a fifty-two week low of $11.65 and a fifty-two week high of $36.65.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.30. The business had revenue of $631.70 million for the quarter, compared to the consensus estimate of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. On average, equities analysts predict that Mallinckrodt PLC will post 6.71 earnings per share for the current fiscal year.

Mallinckrodt Profile

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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