JPMorgan Chase & Co. Reaffirms Overweight Rating for Shire PLC (SHPG)
Shire PLC (NASDAQ:SHPG)‘s stock had its “overweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Monday.
Several other analysts have also issued reports on SHPG. Piper Jaffray Cos. set a $201.00 price target on shares of Shire PLC and gave the company a “hold” rating in a research report on Saturday, October 1st. Leerink Swann reissued a “buy” rating on shares of Shire PLC in a research report on Saturday, October 1st. Jefferies Group reissued a “buy” rating on shares of Shire PLC in a research report on Friday, July 1st. BTIG Research reissued a “buy” rating and issued a $230.00 price target on shares of Shire PLC in a research report on Tuesday, July 12th. Finally, RBC Capital Markets reissued an “outperform” rating on shares of Shire PLC in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $228.15.
Shares of Shire PLC (NASDAQ:SHPG) traded down 1.02% during mid-day trading on Monday, hitting $185.79. 928,814 shares of the company’s stock traded hands. The company has a market cap of $55.34 billion, a PE ratio of 38.61 and a beta of 1.16. The firm has a 50-day moving average of $194.68 and a 200 day moving average of $187.77. Shire PLC has a 52 week low of $147.60 and a 52 week high of $231.32.
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Shire PLC (NASDAQ:SHPG) last released its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.03 by $0.35. The firm had revenue of $2.43 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.63 earnings per share. Equities research analysts predict that Shire PLC will post $12.92 EPS for the current year.
The company also recently declared a dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, September 9th were given a dividend of $0.139 per share. The ex-dividend date was Wednesday, September 7th. Shire PLC’s payout ratio is currently 15.63%.
A number of large investors have recently made changes to their positions in SHPG. Renaissance Technologies LLC boosted its stake in shares of 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 during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Shire PLC during the second quarter valued at $17,387,000. Deltec Asset Management LLC boosted its stake in shares of 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 during the last quarter. Johnston Asset Management LLC boosted its stake in shares of 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 during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Shire PLC during the first quarter valued at $224,000. 24.30% of the stock is owned by institutional investors and hedge funds.
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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