Shire (SHPG) Stock Price Down 5.5% on Analyst Downgrade

Shire PLC (NASDAQ:SHPG) shares were down 5.5% on Tuesday after SunTrust Banks lowered their price target on the stock to $190.00. SunTrust Banks currently has a buy rating on the stock. Shire traded as low as $126.52 and last traded at $126.67. Approximately 2,094,534 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 1,511,204 shares. The stock had previously closed at $134.06.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research raised Shire from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of Shire in a research report on Thursday, November 16th. Bank of America boosted their price objective on Shire from $236.00 to $237.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Cantor Fitzgerald set a $222.00 price objective on Shire and gave the stock a “buy” rating in a research report on Thursday, November 16th. Finally, Cowen set a $225.00 price objective on Shire and gave the stock a “buy” rating in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $204.00.

Several hedge funds and other institutional investors have recently modified their holdings of SHPG. Harding Loevner LP lifted its position in shares of Shire by 18,894.4% during the 3rd quarter. Harding Loevner LP now owns 127,537,052 shares of the biopharmaceutical company’s stock valued at $20,354,000 after buying an additional 126,865,607 shares during the last quarter. Third Point LLC purchased a new position in shares of Shire during the 3rd quarter valued at $183,768,000. Boston Partners raised its stake in shares of Shire by 60.9% during the 4th quarter. Boston Partners now owns 2,342,391 shares of the biopharmaceutical company’s stock valued at $363,351,000 after purchasing an additional 886,572 shares during the period. ING Groep NV raised its stake in shares of Shire by 9,043.1% during the 4th quarter. ING Groep NV now owns 524,537 shares of the biopharmaceutical company’s stock valued at $81,366,000 after purchasing an additional 518,800 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of Shire by 26,182.4% during the 3rd quarter. Sterling Capital Management LLC now owns 474,397 shares of the biopharmaceutical company’s stock valued at $72,649,000 after purchasing an additional 472,592 shares during the period. 20.92% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 0.98, a quick ratio of 0.52 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $38,650.00, a P/E ratio of 5.79, a PEG ratio of 0.75 and a beta of 1.41.

Shire (NASDAQ:SHPG) last released its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.12. Shire had a return on equity of 14.75% and a net margin of 28.17%. The company had revenue of $4.14 billion for the quarter. During the same quarter in the previous year, the firm posted $3.37 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities research analysts forecast that Shire PLC will post 15.27 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, April 24th. Investors of record on Friday, March 9th will be paid a dividend of $0.8937 per share. This represents a dividend yield of 1.33%. This is a positive change from Shire’s previous semiannual dividend of $0.15. The ex-dividend date is Thursday, March 8th. Shire’s payout ratio is presently 4.20%.

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About Shire

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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