Traders Purchase High Volume of Put Options on Shire (SHPG)

Shire PLC (NASDAQ:SHPG) was the target of some unusual options trading on Tuesday. Stock traders purchased 6,183 put options on the company. This represents an increase of approximately 1,618% compared to the typical volume of 360 put options.

A number of hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in Shire during the 3rd quarter valued at $159,000. Sterling Capital Management LLC raised its holdings in Shire by 26,182.4% during the 3rd quarter. Sterling Capital Management LLC now owns 474,397 shares of the biopharmaceutical company’s stock valued at $72,649,000 after acquiring an additional 472,592 shares during the period. Afam Capital Inc. raised its holdings in Shire by 3.0% during the 3rd quarter. Afam Capital Inc. now owns 30,761 shares of the biopharmaceutical company’s stock valued at $4,711,000 after acquiring an additional 882 shares during the period. Neuberger Berman Group LLC raised its holdings in Shire by 16.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 21,789 shares of the biopharmaceutical company’s stock valued at $3,337,000 after acquiring an additional 3,076 shares during the period. Finally, Lumbard & Kellner LLC raised its holdings in Shire by 46.9% during the 3rd quarter. Lumbard & Kellner LLC now owns 26,685 shares of the biopharmaceutical company’s stock valued at $4,087,000 after acquiring an additional 8,515 shares during the period. 20.19% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on SHPG. ValuEngine downgraded Shire from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cantor Fitzgerald restated a “buy” rating and issued a $222.00 target price on shares of Shire in a research note on Thursday, September 14th. Royal Bank of Canada restated a “buy” rating and issued a $213.00 target price on shares of Shire in a research note on Monday, October 2nd. Stifel Nicolaus restated a “buy” rating and issued a $245.00 target price on shares of Shire in a research note on Sunday, October 8th. Finally, FBR & Co began coverage on Shire in a research note on Thursday, October 19th. They issued a “buy” rating and a $201.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $212.18.

Shares of Shire (NASDAQ:SHPG) opened at $156.74 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The company has a market cap of $48,120.00, a P/E ratio of 10.84, a P/E/G ratio of 0.88 and a beta of 1.59. Shire has a 1-year low of $137.17 and a 1-year high of $192.15.

Shire (NASDAQ:SHPG) last posted its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.17. Shire had a net margin of 10.95% and a return on equity of 14.41%. The company had revenue of $3.70 billion for the quarter. During the same period last year, the firm posted $3.17 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts expect that Shire will post 15 earnings per share for the current fiscal year.

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About Shire

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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