Arrowstreet Capital Limited Partnership Sells 192,500 Shares of Shire PLC (SHPG)
Arrowstreet Capital Limited Partnership decreased its position in shares of Shire PLC (NASDAQ:SHPG) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 916,378 shares of the biopharmaceutical company’s stock after selling 192,500 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Shire PLC were worth $151,450,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of SHPG. BlackRock Inc. lifted its stake in shares of Shire PLC by 4,217.7% during the 1st 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 during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Shire PLC 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 purchasing an additional 1,281,202 shares during the last quarter. Glenview Capital Management LLC purchased a new stake in shares of Shire PLC during the 1st quarter worth $176,927,000. Jana Partners LLC purchased a new stake in shares of Shire PLC during the 1st quarter worth $94,903,000. Finally, New South Capital Management Inc. purchased a new stake in shares of Shire PLC during the 1st quarter worth $87,954,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.
SHPG has been the subject of a number of analyst reports. Zacks Investment Research cut Shire PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub cut Shire PLC from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. ValuEngine cut Shire PLC from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cantor Fitzgerald restated a “buy” rating and set a $222.00 price objective on shares of Shire PLC in a research note on Thursday, September 14th. Finally, BTIG Research restated a “buy” rating and set a $242.00 price objective on shares of Shire PLC in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $220.91.
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Shares of Shire PLC (NASDAQ SHPG) traded down 1.34% on Friday, hitting $151.09. The stock had a trading volume of 764,940 shares. The stock has a 50 day moving average price of $152.25 and a 200-day moving average price of $165.96. Shire PLC has a 12-month low of $139.36 and a 12-month high of $198.58.
Shire PLC (NASDAQ:SHPG) last posted its earnings results on Friday, October 27th. The biopharmaceutical company reported $3.37 earnings per share 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%. Analysts predict that Shire PLC will post $14.93 earnings per share for the current year.
The company also recently announced 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 of this dividend is Thursday, September 7th. Shire PLC’s payout ratio is currently 41.07%.
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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