Investors Buy Shares of Shire PLC (SHPG) on Weakness

Investors purchased shares of Shire PLC (NASDAQ:SHPG) on weakness during trading hours on Wednesday. $85.12 million flowed into the stock on the tick-up and $40.94 million flowed out of the stock on the tick-down, for a money net flow of $44.18 million into the stock. Of all equities tracked, Shire PLC had the 12th highest net in-flow for the day. Shire PLC traded down ($2.99) for the day and closed at $153.87

A number of brokerages have recently issued reports on SHPG. HSBC Holdings plc cut shares of Shire PLC from a “hold” rating to a “reduce” rating in a research note on Friday, May 19th. Royal Bank Of Canada set a $221.00 price objective on shares of Shire PLC and gave the company a “buy” rating in a research note on Thursday, May 18th. Sanford C. Bernstein cut shares of Shire PLC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $209.22 to $161.09 in a research note on Thursday, May 25th. BidaskClub upgraded shares of Shire PLC from a “strong sell” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, ValuEngine cut shares of Shire PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $222.27.

The company has a market cap of $45.83 billion, a PE ratio of 157.82 and a beta of 1.60. The company has a 50 day moving average price of $166.27 and a 200 day moving average price of $172.96.

Shire PLC (NASDAQ:SHPG) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 EPS for the quarter, beating the Zacks’ consensus estimate of $3.53 by $0.20. The business had revenue of $3.75 billion during the quarter. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The firm’s revenue for the quarter was up 54.2% compared to the same quarter last year. During the same period last year, the firm earned $3.38 EPS. On average, equities research analysts forecast that Shire PLC will post $14.92 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dumont & Blake Investment Advisors LLC increased its position in shares of Shire PLC by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,594 shares of the biopharmaceutical company’s stock valued at $452,000 after buying an additional 7 shares during the last quarter. Inspirion Wealth Advisors LLC increased its position in shares of Shire PLC by 0.4% in the second quarter. Inspirion Wealth Advisors LLC now owns 1,944 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 8 shares during the last quarter. Synovus Financial Corp increased its position in shares of Shire PLC by 0.4% in the second quarter. Synovus Financial Corp now owns 2,780 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 11 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Shire PLC by 0.5% in the first quarter. Level Four Advisory Services LLC now owns 2,745 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 13 shares during the last quarter. Finally, 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 during the last quarter. 21.04% of the stock is owned by hedge funds and other institutional investors.

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Shire PLC Company Profile

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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