Investors Buy Large Volume of Put Options on Shire (NASDAQ:SHPG)

Shire PLC (NASDAQ:SHPG) was the recipient of some unusual options trading on Tuesday. Investors acquired 6,183 put options on the stock. This is an increase of 1,618% compared to the average daily volume of 360 put options.

A number of hedge funds have recently modified their holdings of SHPG. Harding Loevner LP grew its position in Shire by 18,894.4% during the 3rd quarter. Harding Loevner LP now owns 127,537,052 shares of the biopharmaceutical company’s stock worth $20,354,000 after acquiring an additional 126,865,607 shares during the last quarter. Janus Henderson Group PLC grew its position in Shire by 22,560.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,286,881 shares of the biopharmaceutical company’s stock worth $212,683,000 after acquiring an additional 1,281,202 shares during the last quarter. Third Point LLC bought a new stake in Shire during the 3rd quarter worth $183,768,000. Glenview Capital Management LLC grew its position in Shire by 69.7% during the 2nd quarter. Glenview Capital Management LLC now owns 1,722,977 shares of the biopharmaceutical company’s stock worth $284,756,000 after acquiring an additional 707,500 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Shire by 26,182.4% during the 3rd quarter. Sterling Capital Management LLC now owns 474,397 shares of the biopharmaceutical company’s stock worth $72,649,000 after acquiring an additional 472,592 shares during the last quarter. Institutional investors and hedge funds own 20.19% of the company’s stock.

Several equities analysts have weighed in on the company. BidaskClub cut Shire from a “hold” rating to a “sell” rating in a report on Wednesday. Cowen set a $225.00 price objective on Shire and gave the company a “buy” rating in a report on Friday, January 5th. Cantor Fitzgerald set a $222.00 price objective on Shire and gave the company a “buy” rating in a report on Wednesday, January 3rd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Shire in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut Shire from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $212.18.

Shares of Shire (SHPG) traded down $0.86 on Friday, hitting $147.55. The stock had a trading volume of 1,098,141 shares, compared to its average volume of 1,050,000. Shire has a one year low of $137.17 and a one year high of $192.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.52 and a current ratio of 0.98. The company has a market cap of $44,560.00, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 0.80 and a beta of 1.59.

Shire (NASDAQ:SHPG) last issued its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.64 by $0.17. Shire had a return on equity of 14.41% and a net margin of 10.95%. The company had revenue of $3.70 billion for the quarter. During the same quarter in the previous year, the business posted $3.17 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. equities analysts expect that Shire will post 15 earnings per share for the current fiscal year.

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Shire 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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