Economy

Barings LLC Sells 31650 Shares of Mallinckrodt PLC (MNK)

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. Lingohr & Partner Asset Management GmbH lifted its position in shares of Mallinckrodt by 152.6% during the third quarter. Teachers Advisors LLC boosted its position in Mallinckrodt by 4.3% during the first quarter.

University of MI professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period. Icon Advisers Inc. Co. now owns 114,200 shares of the company's stock worth $5,117,000 after acquiring an additional 71,200 shares during the period. Korea Investment Corp owns 72,300 shares or 0.02% of their USA portfolio. Westpac Banking Corp's holdings in Mallinckrodt PLC were worth $1,199,000 as of its most recent filing with the SEC. GLG LLC now owns 7,358 shares of the company's stock valued at $367,000 after buying an additional 468 shares during the last quarter. Focused Wealth Management Inc increased its stake in shares of Mallinckrodt PLC by 19.7% in the fourth quarter. The number of shares now owned by investors are 96.36 mln. Mn Services Vermogensbeheer B.V. now owns 16,849 shares of the company's stock worth $755,000 after purchasing an additional 14,054 shares during the period.

Several equities analysts have recently commented on the stock. Stifel Nicolaus maintained Mallinckrodt Public Limited Company (NYSE:MNK) on Wednesday, November 8 with "Buy" rating. The stock of Mallinckrodt Public Limited Company (NYSE:MNK) earned "Overweight" rating by Morgan Stanley on Thursday, December 3. BidaskClub cut shares of Mallinckrodt from a "hold" rating to a "sell" rating in a research report on Tuesday, August 8th. Piper Jaffray Companies set a $67.00 price target on shares of Mallinckrodt and gave the stock a "buy" rating in a research report on Saturday, October 21st. Mallinckrodt presently has an average rating of "Hold" and an average 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. In other news, CFO Matthew K. Harbaugh acquired 600 shares of the business's stock in a transaction that occurred on Friday, March 10th. 742,659 are owned by Ascend Capital Ltd Liability. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The stock was purchased at an average price of $21.94 per share, for a total transaction of $100,046.40. Insiders have acquired 30,460 shares of company stock worth $659,486 over the last three months. ARRS's institutional ownership was registered as 88.90% while insider ownership was 0.80%.

For this year, Mallinckrodt Public Limited Company ((NYSE:MNK)) is performing -55.92%. Current price places the company's stock 18.31% away from its 200-day simple moving average, 5.85%, away from the 50-day average and also 2.77% away from 20-day average. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. Mallinckrodt has $218 highest and $24.0 lowest target. The company has market cap of $2.04 billion. Brinker Cap has invested 0.03% in Mallinckrodt Public Limited Company (NYSE:MNK). The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 7.75% and a return on equity of 17.34%. The firm had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. The firm's revenue was down 10.5% on a year-over-year basis. sell-side analysts predict that Mallinckrodt PLC will post 7.2 earnings per share for the current year.

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