Midas Management Corp Takes Position in Shire PLC (SHPG)
Midas Management Corp acquired a new position in Shire PLC (NASDAQ:SHPG) during the second quarter, Holdings Channel reports. The institutional investor acquired 4,001 shares of the biopharmaceutical company’s stock, valued at approximately $737,000.
Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased 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 last quarter. Duncker Streett & Co. Inc. acquired a new stake in Shire PLC during the second quarter worth approximately $111,000. West Oak Capital LLC acquired a new stake in Shire PLC during the second quarter worth approximately $126,000. NEXT Financial Group Inc acquired a new stake in Shire PLC during the second quarter worth approximately $126,000. Finally, North Star Investment Management Corp. acquired a new stake in Shire PLC during the second quarter worth approximately $147,000. Hedge funds and other institutional investors own 24.30% of the company’s stock.
Shire PLC (NASDAQ:SHPG) traded up 2.64% during mid-day trading on Tuesday, hitting $190.70. The stock had a trading volume of 3,228,601 shares. The company has a 50-day moving average of $194.55 and a 200-day moving average of $188.26. The firm has a market cap of $56.80 billion, a PE ratio of 39.63 and a beta of 1.16. Shire PLC has a 12-month low of $147.60 and a 12-month high of $231.32.
Shire PLC (NASDAQ:SHPG) last announced its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.35. The company 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 company’s revenue was up 55.9% on a year-over-year basis. During the same period last year, the firm earned $2.63 earnings per share. Analysts expect that Shire PLC will post $12.92 earnings per share for the current year.
The firm also recently announced a dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 9th were paid a dividend of $0.139 per share. The ex-dividend date of this dividend was Wednesday, September 7th. Shire PLC’s dividend payout ratio is presently 15.63%.
SHPG has been the topic of a number of research analyst reports. HSBC downgraded Shire PLC from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Shore Capital restated a “buy” rating on shares of Shire PLC in a research report on Tuesday, August 30th. Citigroup Inc. restated a “buy” rating on shares of Shire PLC in a research report on Tuesday, September 27th. Zacks Investment Research upgraded Shire PLC from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research report on Tuesday, July 5th. Finally, Jefferies Group restated a “buy” rating and issued a $262.00 target price on shares of Shire PLC in a research report on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $228.15.
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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