Palo Alto Investors LLC increased its position in Shire PLC (NASDAQ:SHPG) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,200 shares of the biopharmaceutical company’s stock after buying an additional 6,100 shares during the period. Shire PLC accounts for approximately 1.1% of Palo Alto Investors LLC’s investment portfolio, making the stock its 23rd largest position. Palo Alto Investors LLC’s holdings in Shire PLC were worth $22,685,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SHPG. Whittier Trust Co. boosted its position in Shire PLC by 19.1% in the first quarter. Whittier Trust Co. now owns 573 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 92 shares during the period. Pinnacle Bank bought a new stake in shares of Shire PLC during the first quarter valued at about $101,000. Thompson Davis & CO. Inc. increased its stake in Shire PLC by 3.1% in the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 19 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Shire PLC during the fourth quarter worth $126,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Shire PLC by 8.5% in the first quarter. North Star Investment Management Corp. now owns 756 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 59 shares during the period. 20.89% of the stock is currently owned by institutional investors and hedge funds.
Shire PLC (NASDAQ SHPG) traded up 1.97% on Wednesday, reaching $165.10. The company had a trading volume of 599,350 shares. Shire PLC has a one year low of $161.09 and a one year high of $209.22.
Shire PLC (NASDAQ:SHPG) last issued its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.41. The business had revenue of $3.57 billion during the quarter. Shire PLC had a return on equity of 13.05% and a net margin of 2.14%. The company’s quarterly revenue was up 109.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. On average, equities research analysts forecast that Shire PLC will post $14.89 earnings per share for the current year.
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SHPG has been the subject of several research analyst reports. Sanford C. Bernstein lowered shares of Shire PLC from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $209.22 to $161.09 in a research note on Thursday, May 25th. HSBC Holdings plc downgraded shares of Shire PLC from a “hold” rating to a “reduce” rating in a report on Friday, May 19th. Goldman Sachs Group, Inc. (The) lifted their target price on shares of Shire PLC from $202.00 to $214.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Jefferies Group LLC set a $239.00 price objective on shares of Shire PLC and gave the company a “buy” rating in a report on Thursday, April 20th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $221.00 price target on shares of Shire PLC in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $223.01.
About Shire PLC
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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