Shire PLC (SHPG) Sees Strong Trading Volume
Shire PLC (NASDAQ:SHPG) saw unusually-high trading volume on Friday . Approximately 1,339,158 shares were traded during mid-day trading, an increase of 51% from the previous session’s volume of 888,330 shares.The stock last traded at $199.60 and had previously closed at $196.49.
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Shire PLC from $230.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, May 20th. Bryan, Garnier & Co assumed coverage on shares of Shire PLC in a research report on Monday, May 23rd. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Shire PLC in a research report on Thursday, May 26th. They set a “buy” rating and a $230.00 price target for the company. Leerink Swann reissued an “outperform” rating and set a $225.00 price target on shares of Shire PLC in a research report on Thursday, May 26th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Shire PLC in a research report on Friday, June 3rd. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $237.41.
The firm has a market capitalization of $59.75 billion, a P/E ratio of 41.69 and a beta of 1.11. The stock’s 50 day moving average is $195.14 and its 200 day moving average is $182.58.
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Shire PLC (NASDAQ:SHPG) last released its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.03 by $0.35. The business earned $2.43 million during the quarter, compared to analyst estimates of $2.28 billion. Shire PLC had a net margin of 13.19% and a return on equity of 17.70%. The company’s quarterly revenue was up 55.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 earnings per share. Equities research analysts predict that Shire PLC will post $12.93 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 9th will be given a dividend of $0.139 per share. The ex-dividend date of this dividend is Wednesday, September 7th. Shire PLC’s payout ratio is 15.63%.
Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Shire PLC by 10.0% in the first quarter. BlackRock Fund Advisors now owns 591,458 shares of the biopharmaceutical company’s stock valued at $101,672,000 after buying an additional 53,889 shares during the last quarter. Agur Provident & Training Funds Management Ltd. bought a new position in shares of Shire PLC during the first quarter valued at approximately $1,622,000. Connable Office Inc. raised its position in shares of Shire PLC by 17.5% in the first quarter. Connable Office Inc. now owns 2,205 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 328 shares during the last quarter. Ngam Advisors L.P. raised its position in shares of Shire PLC by 22.8% in the first quarter. Ngam Advisors L.P. now owns 34,151 shares of the biopharmaceutical company’s stock valued at $5,870,000 after buying an additional 6,333 shares during the last quarter. Finally, Exane Asset Management bought a new position in shares of Shire PLC during the first quarter valued at approximately $12,851,000. 24.61% of the stock is owned by hedge funds and other institutional investors.
Shire PLC Company Profile
Shire plc is a biotech company. The Company, along with its subsidiaries, is engaged in developing and marketing medicines for patients with rare diseases and other select conditions. The Company operates in the segment of research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines.
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