Shire PLC (SHPG) Downgraded by HSBC Holdings plc
Shire PLC (NASDAQ:SHPG) was downgraded by investment analysts at HSBC Holdings plc from a “hold” rating to a “reduce” rating in a report released on Friday.
A number of other research firms have also weighed in on SHPG. Barclays PLC began coverage on Shire PLC in a report on Tuesday, March 7th. They set an “overweight” rating for the company. Royal Bank of Canada restated a “buy” rating and set a $221.00 target price on shares of Shire PLC in a report on Tuesday, March 14th. Jefferies Group LLC set a $239.00 target price on Shire PLC and gave the stock a “buy” rating in a report on Friday, February 17th. Guggenheim restated a “neutral” rating on shares of Shire PLC in a report on Friday, February 17th. Finally, Liberum Capital began coverage on Shire PLC in a report on Thursday, March 9th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the stock. Shire PLC currently has an average rating of “Buy” and an average target price of $221.70.
Shares of Shire PLC (NASDAQ:SHPG) traded down 0.45% on Friday, reaching $189.14. The company’s stock had a trading volume of 1,715,431 shares. The firm has a 50-day moving average price of $177.05 and a 200 day moving average price of $174.58. The firm has a market capitalization of $56.34 billion, a PE ratio of 193.99 and a beta of 1.53. Shire PLC has a one year low of $161.09 and a one year high of $209.22.
Shire PLC (NASDAQ:SHPG) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.41. The company had revenue of $3.57 billion during the quarter. Shire PLC had a return on equity of 14.81% and a net margin of 1.62%. The firm’s quarterly revenue was up 109.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. On average, analysts anticipate that Shire PLC will post $15.00 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Tuesday, April 25th. Investors of record on Friday, March 10th were paid a $0.771 dividend. This is a positive change from Shire PLC’s previous dividend of $0.14. The ex-dividend date was Wednesday, March 8th. Shire PLC’s dividend payout ratio (DPR) is 51.95%.
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Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Shire PLC by 4,217.7% in the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock worth $249,755,000 after buying an additional 1,400,275 shares during the period. Glenview Capital Management LLC purchased a new position in shares of Shire PLC during the first quarter worth about $176,927,000. Norges Bank purchased a new position in shares of Shire PLC during the fourth quarter worth about $160,922,000. Price T Rowe Associates Inc. MD raised its position in shares of Shire PLC by 20.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,781,923 shares of the biopharmaceutical company’s stock worth $927,024,000 after buying an additional 802,411 shares during the period. Finally, Boston Partners raised its position in shares of Shire PLC by 80.7% in the first quarter. Boston Partners now owns 1,359,151 shares of the biopharmaceutical company’s stock worth $236,805,000 after buying an additional 606,814 shares during the period. Institutional investors own 22.69% of the company’s stock.
About Shire PLC
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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