Shire PLC (SHPG) Stake Reduced by CIBC Asset Management Inc
CIBC Asset Management Inc decreased its stake in Shire PLC (NASDAQ:SHPG) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,398 shares of the biopharmaceutical company’s stock after selling 1 shares during the period. CIBC Asset Management Inc’s holdings in Shire PLC were worth $727,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. HPM Partners LLC acquired a new position in Shire PLC during the first quarter valued at $1,534,000. Vanguard Group Inc. increased its position in Shire PLC by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,542,634 shares of the biopharmaceutical company’s stock valued at $268,773,000 after buying an additional 13,665 shares during the period. BlackRock Inc. increased its position in Shire PLC by 4,217.7% in the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock valued at $249,755,000 after buying an additional 1,400,275 shares during the period. Laurion Capital Management LP acquired a new position in Shire PLC during the first quarter valued at $10,611,000. Finally, Atria Investments LLC increased its position in Shire PLC by 32.6% in the second quarter. Atria Investments LLC now owns 1,648 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 20.22% of the company’s stock.
Shares of Shire PLC (SHPG) opened at 147.77 on Tuesday. Shire PLC has a 1-year low of $147.28 and a 1-year high of $209.22.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.53 by $0.20. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The company had revenue of $3.75 billion during the quarter. During the same period in the prior year, the firm earned $3.38 EPS. Shire PLC’s quarterly revenue was up 54.2% on a year-over-year basis. On average, equities analysts anticipate that Shire PLC will post $14.95 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 8th will be given a $0.1527 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a dividend yield of 0.21%. Shire PLC’s dividend payout ratio is currently 40.63%.
SHPG has been the topic of several recent analyst reports. Piper Jaffray Companies set a $159.00 target price on Shire PLC and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Zacks Investment Research downgraded Shire PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Sanford C. Bernstein downgraded Shire PLC from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $209.22 to $161.09 in a research report on Thursday, May 25th. BidaskClub downgraded Shire PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, HSBC Holdings plc downgraded Shire PLC from a “hold” rating to a “reduce” rating in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. Shire PLC presently has an average rating of “Buy” and an average price target of $222.27.
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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