Meeder Asset Management Inc. grew its stake in Mallinckrodt PLC (NYSE:MNK) by 20.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,285 shares of the company’s stock after purchasing an additional 3,273 shares during the period. Meeder Asset Management Inc.’s holdings in Mallinckrodt were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Sentry Investment Management LLC raised its holdings in Mallinckrodt by 1.6% in the 2nd quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock worth $2,360,000 after purchasing an additional 817 shares during the period. QS Investors LLC raised its holdings in Mallinckrodt by 10.8% in the 2nd quarter. QS Investors LLC now owns 9,477 shares of the company’s stock worth $425,000 after purchasing an additional 923 shares during the period. LS Investment Advisors LLC raised its holdings in Mallinckrodt by 27.1% in the 3rd quarter. LS Investment Advisors LLC now owns 9,517 shares of the company’s stock worth $356,000 after purchasing an additional 2,028 shares during the period. Advantus Capital Management Inc raised its holdings in Mallinckrodt by 23.7% in the 3rd quarter. Advantus Capital Management Inc now owns 12,286 shares of the company’s stock worth $459,000 after purchasing an additional 2,352 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in Mallinckrodt by 15.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,731 shares of the company’s stock worth $775,000 after purchasing an additional 2,792 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Shares of Mallinckrodt PLC (MNK) opened at $16.02 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The stock has a market capitalization of $1,521.98, a P/E ratio of 2.16, a PEG ratio of 0.30 and a beta of 1.04. Mallinckrodt PLC has a 52-week low of $15.27 and a 52-week high of $55.32.

A number of equities analysts recently weighed in on MNK shares. Mizuho reaffirmed a “hold” rating and issued a $40.00 price target on shares of Mallinckrodt in a report on Sunday, October 15th. Zacks Investment Research cut Mallinckrodt from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Piper Jaffray Companies set a $67.00 price target on Mallinckrodt and gave the stock a “buy” rating in a report on Saturday, October 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $52.00 price objective on shares of Mallinckrodt in a research note on Thursday, November 2nd. Finally, Deutsche Bank lowered Mallinckrodt from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $28.00 in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.10.

In related news, VP Steven J. Romano purchased 2,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $43,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dr Kneeland Youngblood purchased 4,560 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was bought at an average price of $21.94 per share, with a total value of $100,046.40. Following the completion of the transaction, the director now directly owns 19,789 shares of the company’s stock, valued at $434,170.66. The disclosure for this purchase can be found here. Insiders bought 7,560 shares of company stock valued at $165,466 over the last 90 days. Company insiders own 0.77% of the company’s stock.

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Mallinckrodt 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.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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