Sandy Spring Bank Has $827,000 Holdings in Shire PLC (SHPG)
Sandy Spring Bank cut its position in shares of Shire PLC (NASDAQ:SHPG) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,971 shares of the biopharmaceutical company’s stock after selling 1,232 shares during the period. Sandy Spring Bank’s holdings in Shire PLC were worth $827,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Hartford Financial Management Inc. raised its stake in Shire PLC by 5.4% during the second quarter. Hartford Financial Management Inc. now owns 621 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 32 shares during the period. Thompson Davis & CO. Inc. raised its stake in Shire PLC by 3.1% during the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 19 shares during the period. Pacer Advisors Inc. purchased a new position in Shire PLC during the second quarter worth about $171,000. Stephens Inc. AR purchased a new position in Shire PLC during the first quarter worth about $179,000. Finally, Quantbot Technologies LP purchased a new position in Shire PLC during the first quarter worth about $182,000. 19.28% of the stock is currently owned by institutional investors.
A number of brokerages have commented on SHPG. Cantor Fitzgerald reaffirmed a “buy” rating and set a $222.00 target price on shares of Shire PLC in a research note on Thursday. ValuEngine downgraded shares of Shire PLC from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Evercore ISI assumed coverage on shares of Shire PLC in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $196.00 price target on the stock. Barclays PLC downgraded shares of Shire PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $206.00 price target (down from $216.00) on shares of Shire PLC in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $220.08.
Shares of Shire PLC (NASDAQ:SHPG) traded down 0.84% on Monday, hitting $157.13. 229,072 shares of the company were exchanged. Shire PLC has a 52-week low of $139.36 and a 52-week high of $209.22. The firm has a market cap of $46.80 billion, a P/E ratio of 70.30 and a beta of 1.61. The company has a 50-day moving average price of $153.42 and a 200 day moving average price of $168.82.
Shire PLC (NASDAQ:SHPG) last posted its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.37 EPS 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 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 8th will be issued a $0.1527 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a yield of 0.21%. Shire PLC’s payout ratio is 41.07%.
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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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