Schonfeld Strategic Advisors LLC Sells 796,877 Shares of Mallinckrodt PLC (NYSE:MNK)

Schonfeld Strategic Advisors LLC lowered its position in shares of Mallinckrodt PLC (NYSE:MNK) by 70.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 333,304 shares of the company’s stock after selling 796,877 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.40% of Mallinckrodt worth $1,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of Mallinckrodt by 114.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,069 shares of the company’s stock worth $28,000 after purchasing an additional 4,298 shares during the period. Carnegie Capital Asset Management LLC purchased a new position in Mallinckrodt in the 4th quarter valued at approximately $35,000. ProShare Advisors LLC purchased a new position in Mallinckrodt in the 4th quarter valued at approximately $40,000. SkyOak Wealt LLC purchased a new position in Mallinckrodt in the 4th quarter valued at approximately $46,000. Finally, Comerica Bank purchased a new position in Mallinckrodt in the 4th quarter valued at approximately $53,000. 92.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MNK traded up $0.15 during mid-day trading on Wednesday, reaching $2.13. 6,716,200 shares of the stock traded hands, compared to its average volume of 9,142,415. The firm has a fifty day moving average price of $3.73 and a 200 day moving average price of $3.42. The company has a market cap of $151.57 million, a price-to-earnings ratio of -0.18, a price-to-earnings-growth ratio of 0.02 and a beta of 2.40. The company has a current ratio of 1.28, a quick ratio of 1.06 and a debt-to-equity ratio of 2.44. Mallinckrodt PLC has a 1 year low of $1.00 and a 1 year high of $23.90.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, February 25th. The company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.35. Mallinckrodt had a negative net margin of 31.51% and a positive return on equity of 27.05%. The firm had revenue of $804.90 million during the quarter, compared to analyst estimates of $771.73 million. During the same period in the previous year, the business earned $2.18 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Mallinckrodt PLC will post 6.61 EPS for the current year.

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Mallinckrodt to $3.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Co reiterated a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, January 22nd. Finally, ValuEngine lowered shares of Mallinckrodt from a “buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.27.

About Mallinckrodt

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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