Seaward Management Limited Partnership Takes Position in Shire PLC (SHPG)
Seaward Management Limited Partnership purchased a new position in shares of Shire PLC (NASDAQ:SHPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,973 shares of the biopharmaceutical company’s stock, valued at approximately $1,283,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pioneer Investment Management Inc. increased its position in shares of Shire PLC by 30.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 15,699 shares of the biopharmaceutical company’s stock valued at $3,218,000 after buying an additional 3,680 shares during the last quarter. Norges Bank acquired a new position in shares of Shire PLC during the fourth quarter valued at approximately $31,671,000. Fisher Asset Management LLC increased its position in shares of Shire PLC by 16.8% in the first quarter. Fisher Asset Management LLC now owns 39,657 shares of the biopharmaceutical company’s stock valued at $7,206,000 after buying an additional 5,703 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Shire PLC by 4.6% in the first quarter. Raymond James Trust N.A. now owns 2,591 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 114 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC increased its position in shares of Shire PLC by 225.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 4,758 shares of the biopharmaceutical company’s stock valued at $802,000 after buying an additional 3,294 shares during the last quarter. 24.26% of the stock is owned by institutional investors and hedge funds.
Shire PLC (NASDAQ:SHPG) traded down 1.24% during midday trading on Wednesday, reaching $204.00. The company had a trading volume of 1,659,371 shares. The stock has a market capitalization of $60.76 billion, a PE ratio of 42.39 and a beta of 1.11. Shire PLC has a 12-month low of $147.60 and a 12-month high of $231.32. The company has a 50-day moving average of $196.07 and a 200-day moving average of $183.99.
Shire PLC (NASDAQ:SHPG) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share for the quarter, topping the 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 firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The company’s revenue for the quarter was up 55.9% on a year-over-year basis. On average, analysts predict that Shire PLC will post $12.93 EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 9th will be issued a $0.139 dividend. The ex-dividend date is Wednesday, September 7th. Shire PLC’s payout ratio is 15.63%.
SHPG has been the subject of several research analyst reports. Jefferies Group boosted their target price on Shire PLC from $223.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, June 3rd. Stifel Nicolaus initiated coverage on Shire PLC in a research note on Thursday, May 26th. They issued a “buy” rating and a $230.00 price objective for the company. Zacks Investment Research raised 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. reaffirmed a “buy” rating on shares of Shire PLC in a research note on Tuesday, June 28th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $213.00 price objective (down previously from $225.00) on shares of Shire PLC in a research note on Thursday, June 16th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Shire PLC has an average rating of “Buy” and a consensus price target of $230.67.
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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