Birch Hill Investment Advisors LLC Has $18.62 Million Position in Shire PLC (SHPG)
Birch Hill Investment Advisors LLC lowered its position in shares of Shire PLC (NASDAQ:SHPG) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,677 shares of the biopharmaceutical company’s stock after selling 8,664 shares during the period. Shire PLC accounts for approximately 1.6% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 25th largest position. Birch Hill Investment Advisors LLC’s holdings in Shire PLC were worth $18,622,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of SHPG. BlackRock Inc. grew its stake in shares of Shire PLC by 4,217.7% during the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock worth $249,755,000 after purchasing an additional 1,400,275 shares in the last quarter. Glenview Capital Management LLC acquired a new position in shares of Shire PLC during the first quarter worth $176,927,000. Jana Partners LLC acquired a new position in shares of Shire PLC during the first quarter worth $94,903,000. New South Capital Management Inc. acquired a new position in shares of Shire PLC during the first quarter worth $87,954,000. Finally, OZ Management LP acquired a new position in shares of Shire PLC during the second quarter worth $57,614,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.
A number of brokerages recently commented on SHPG. BidaskClub downgraded shares of Shire PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 16th. Barclays PLC downgraded shares of Shire PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 11th. Sanford C. Bernstein downgraded shares of Shire PLC from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $209.22 to $161.09 in a research note on Thursday, May 25th. Evercore ISI began coverage on shares of Shire PLC in a research note on Wednesday, August 16th. They set an “outperform” rating and a $196.00 target price for the company. Finally, Cantor Fitzgerald set a $222.00 target price on shares of Shire PLC and gave the stock a “buy” rating in a research note on Saturday, July 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $220.08.
Shares of Shire PLC (SHPG) traded down 1.19% during midday trading on Monday, hitting $156.58. 364,580 shares of the stock were exchanged. The firm has a 50-day moving average price of $153.42 and a 200-day moving average price of $168.82. Shire PLC has a 12-month low of $139.36 and a 12-month high of $209.22. The company has a market cap of $46.64 billion, a PE ratio of 70.06 and a beta of 1.61.
Shire PLC (NASDAQ:SHPG) last posted its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.66 by ($0.29). Shire PLC had a net margin of 4.70% and a return on equity of 14.10%. On average, equities analysts predict that Shire PLC will post $14.93 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 8th will be issued a $0.1527 dividend. This represents a dividend yield of 0.21%. The ex-dividend date is Thursday, September 7th. Shire PLC’s dividend payout ratio (DPR) is presently 41.07%.
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Shire PLC Company Profile
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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