Shire PLC (SHPG) Earns “Buy” Rating from Shore Capital
Shire PLC (NASDAQ:SHPG)‘s stock had its “buy” rating reissued by research analysts at Shore Capital in a note issued to investors on Saturday.
SHPG has been the topic of a number of other reports. HSBC lowered shares of Shire PLC from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Citigroup Inc. reiterated a “buy” rating on shares of Shire PLC in a research note on Tuesday, September 27th. Zacks Investment Research upgraded shares of Shire PLC from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research note on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating and set a $262.00 price target on shares of Shire PLC in a research note on Tuesday, September 20th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Shire PLC in a research report on Monday, October 3rd. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Shire PLC has an average rating of “Buy” and an average price target of $232.75.
Shares of Shire PLC (NASDAQ:SHPG) opened at 194.50 on Friday. The stock’s 50 day moving average is $195.56 and its 200 day moving average is $187.04. Shire PLC has a 52-week low of $147.60 and a 52-week high of $231.32. The stock has a market cap of $57.93 billion, a price-to-earnings ratio of 40.42 and a beta of 1.16.
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Shire PLC (NASDAQ:SHPG) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.35. Shire PLC had a net margin of 13.19% and a return on equity of 17.70%. The business had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The business’s revenue was up 55.9% compared to the same quarter last year. On average, equities analysts expect that Shire PLC will post $12.92 earnings per share for the current fiscal year.
The firm also recently declared a dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 9th were given a $0.139 dividend. The ex-dividend date was Wednesday, September 7th. Shire PLC’s dividend payout ratio is presently 15.63%.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Shire PLC by 12.6% in the first quarter. Renaissance Technologies LLC now owns 313,212 shares of the biopharmaceutical company’s stock valued at $53,841,000 after buying an additional 35,100 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Shire PLC during the second quarter valued at approximately $17,387,000. Deltec Asset Management LLC raised its stake in Shire PLC by 266.4% in the second quarter. Deltec Asset Management LLC now owns 32,975 shares of the biopharmaceutical company’s stock valued at $6,070,000 after buying an additional 23,975 shares in the last quarter. Johnston Asset Management LLC raised its stake in Shire PLC by 80.8% in the second quarter. Johnston Asset Management LLC now owns 131,109 shares of the biopharmaceutical company’s stock valued at $24,135,000 after buying an additional 58,607 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Shire PLC during the first quarter valued at approximately $224,000. Institutional investors and hedge funds own 24.26% of the company’s stock.
About Shire PLC
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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