Leerink Swann Weighs in on Shire PLC’s Q3 2016 Earnings (SHPG)
Shire PLC (NASDAQ:SHPG) – Analysts at Leerink Swann lowered their Q3 2016 earnings estimates for shares of Shire PLC in a report released on Tuesday. Leerink Swann analyst J. Gerberry now forecasts that the brokerage will post earnings per share of $3.27 for the quarter, down from their prior forecast of $3.40. Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for Shire PLC’s Q4 2016 earnings at $3.20 EPS, FY2017 earnings at $15.37 EPS, FY2018 earnings at $18.05 EPS and FY2019 earnings at $20.84 EPS.
Shire PLC (NASDAQ:SHPG) last issued its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.35. The firm earned $2.43 million during the quarter, compared to the consensus estimate of $2.28 billion. Shire PLC had a return on equity of 17.70% and a net margin of 13.19%. The business’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.63 earnings per share.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Shire PLC from a “hold” rating to a “buy” rating and set a $192.00 price objective for the company in a research note on Wednesday, June 29th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Shire PLC in a research note on Tuesday, June 28th. Citigroup Inc. reiterated a “buy” rating on shares of Shire PLC in a research note on Friday, July 15th. BTIG Research reiterated a “buy” rating and set a $230.00 price target on shares of Shire PLC in a research note on Tuesday, July 12th. Finally, Shore Capital reiterated a “buy” rating on shares of Shire PLC in a research note on Thursday, July 7th. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $228.15.
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Shares of Shire PLC (NASDAQ:SHPG) traded down 1.12% on Wednesday, reaching $188.56. The company’s stock had a trading volume of 362,608 shares. The firm’s 50-day moving average price is $194.55 and its 200-day moving average price is $188.26. Shire PLC has a 12 month low of $147.60 and a 12 month high of $231.32. The stock has a market cap of $56.16 billion, a P/E ratio of 39.19 and a beta of 1.16.
Several large investors have recently modified their holdings of SHPG. BlackRock Fund Advisors raised its stake in 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 in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Shire PLC during the first quarter valued at $1,014,000. Bessemer Group Inc. raised its stake in Shire PLC by 1,854.4% in the first quarter. Bessemer Group Inc. now owns 3,088 shares of the biopharmaceutical company’s stock valued at $531,000 after buying an additional 2,930 shares in the last quarter. M&T Bank Corp raised its stake in Shire PLC by 33.8% in the first quarter. M&T Bank Corp now owns 6,601 shares of the biopharmaceutical company’s stock valued at $1,134,000 after buying an additional 1,668 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Shire PLC by 5.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,728 shares of the biopharmaceutical company’s stock valued at $297,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 24.30% of the company’s stock.
The firm also recently disclosed 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 currently 15.63%.
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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