Concert Wealth Management Inc. bought a new position in Shire PLC (NASDAQ:SHPG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,102 shares of the biopharmaceutical company’s stock, valued at approximately $389,000.
Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Shire PLC by 157.6% in the second quarter. Quadrant Capital Group LLC now owns 608 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 372 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of Shire PLC during the second quarter worth approximately $111,000. West Oak Capital LLC bought a new position in shares of Shire PLC during the second quarter worth approximately $126,000. NEXT Financial Group Inc bought a new position in shares of Shire PLC during the second quarter worth approximately $126,000. Finally, North Star Investment Management Corp. bought a new position in shares of Shire PLC during the second quarter worth approximately $147,000. 24.26% of the stock is currently owned by institutional investors and hedge funds.
Shire PLC (NASDAQ:SHPG) traded up 1.75% during mid-day trading on Thursday, hitting $191.11. 480,379 shares of the stock were exchanged. The company has a 50-day moving average price of $194.88 and a 200-day moving average price of $187.59. The company has a market cap of $56.92 billion, a P/E ratio of 39.72 and a beta of 1.16. Shire PLC has a one year low of $147.60 and a one year high of $231.32.
Shire PLC (NASDAQ:SHPG) last announced its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 EPS for the quarter, topping the Zacks’ consensus estimate of $3.03 by $0.35. Shire PLC had a return on equity of 17.70% and a net margin of 13.19%. The company had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $2.63 EPS. Shire PLC’s revenue for the quarter was up 55.9% compared to the same quarter last year. Analysts forecast that Shire PLC will post $12.92 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 9th were issued a $0.139 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. Shire PLC’s dividend payout ratio is currently 15.63%.
A number of brokerages have recently commented on SHPG. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Shire PLC in a research report on Tuesday, June 28th. HSBC lowered shares of Shire PLC from a “buy” rating to a “hold” rating in a report on Monday, September 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Shire PLC in a report on Monday, October 3rd. Piper Jaffray Cos. set a $201.00 price objective on shares of Shire PLC and gave the company a “hold” rating in a report on Saturday, October 1st. Finally, Shore Capital reissued a “buy” rating on shares of Shire PLC in a report on Saturday, August 13th. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Shire PLC has a consensus rating of “Buy” and an average target price of $232.75.
Shire PLC Company Profile
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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