Bank of Montreal Can lifted its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 209.3% in the second quarter, Holdings Channel reports. The fund owned 63,822 shares of the company’s stock after acquiring an additional 43,190 shares during the quarter. Bank of Montreal Can’s holdings in Mallinckrodt were worth $1,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNK. PNC Financial Services Group Inc. raised its position in Mallinckrodt by 22.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,662 shares of the company’s stock worth $343,000 after purchasing an additional 4,381 shares during the period. Guggenheim Capital LLC raised its position in Mallinckrodt by 17.1% in the 1st quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock worth $592,000 after purchasing an additional 5,958 shares during the period. Baker Avenue Asset Management LP raised its position in Mallinckrodt by 12.7% in the 1st quarter. Baker Avenue Asset Management LP now owns 59,463 shares of the company’s stock worth $861,000 after purchasing an additional 6,720 shares during the period. Gabelli Funds LLC raised its position in Mallinckrodt by 12.0% in the 1st quarter. Gabelli Funds LLC now owns 65,349 shares of the company’s stock worth $946,000 after purchasing an additional 7,000 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Mallinckrodt in the 1st quarter worth $104,000.

A number of brokerages recently commented on MNK. Barclays lifted their target price on shares of Mallinckrodt from $12.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 8th. Mizuho restated a “hold” rating and issued a $15.00 price objective on shares of Mallinckrodt in a research report on Friday, April 20th. Cantor Fitzgerald set a $42.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday, April 30th. ValuEngine cut shares of Mallinckrodt from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, Canaccord Genuity set a $14.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Tuesday, May 8th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.63.

Shares of MNK opened at $34.69 on Friday. The stock has a market cap of $2.59 billion, a PE ratio of 4.61, a P/E/G ratio of 0.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.06 and a current ratio of 2.27. Mallinckrodt PLC has a 1-year low of $11.65 and a 1-year high of $41.70.

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

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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