New England Asset Management Inc. boosted its stake in shares of Shire PLC (NASDAQ:SHPG) by 92.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,729 shares of the biopharmaceutical company’s stock after buying an additional 6,600 shares during the period. New England Asset Management Inc.’s holdings in Shire PLC were worth $2,392,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHPG. Whittier Trust Co. increased its position in shares of Shire PLC by 19.1% in the first quarter. Whittier Trust Co. now owns 573 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 92 shares in the last quarter. Pinnacle Bank purchased a new position in shares of Shire PLC during the first quarter valued at approximately $101,000. Thompson Davis & CO. Inc. increased its position in shares of Shire PLC by 3.1% in the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 19 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Shire PLC during the fourth quarter valued at approximately $126,000. Finally, FTB Advisors Inc. increased its position in shares of Shire PLC by 11.1% in the first quarter. FTB Advisors Inc. now owns 749 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 21.28% of the company’s stock.
Shares of Shire PLC (SHPG) traded up 1.46% during trading on Friday, hitting $164.72. 1,542,468 shares of the stock traded hands. The company has a 50 day moving average price of $177.60 and a 200 day moving average price of $174.28. Shire PLC has a 12 month low of $161.09 and a 12 month high of $209.22. The firm has a market cap of $49.06 billion, a price-to-earnings ratio of 168.94 and a beta of 1.57.
Shire PLC (NASDAQ:SHPG) last announced its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.41. The firm had revenue of $3.57 billion for the quarter. Shire PLC had a net margin of 2.14% and a return on equity of 13.05%. The company’s revenue for the quarter was up 109.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. Analysts anticipate that Shire PLC will post $14.90 earnings per share for the current fiscal year.
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A number of analysts have weighed in on the stock. BidaskClub cut shares of Shire PLC from a “sell” rating to a “strong sell” rating in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 target price (down previously from $239.00) on shares of Shire PLC in a research note on Friday, June 9th. ValuEngine cut shares of Shire PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank of Canada set a $218.00 target price on shares of Shire PLC and gave the stock a “buy” rating in a research note on Thursday, June 8th. Finally, Stifel Nicolaus decreased their target price on shares of Shire PLC from $250.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Shire PLC has a consensus rating of “Buy” and a consensus target price of $223.01.
About Shire PLC
Shire plc is a biotech company focused on serving people with rare diseases and other specialized conditions. The Company’s segment is engaged in research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines. It focuses its development resources on projects in various therapeutic areas (TAs), including Neuroscience, Ophthalmology, Hematology, Oncology, Immunology, Gastrointestinal (GI)/Metabolic/Endocrinology Diseases.
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