Grimes & Company Inc. cut its stake in Shire PLC (NASDAQ:SHPG) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,828 shares of the biopharmaceutical company’s stock after selling 15,602 shares during the period. Grimes & Company Inc.’s holdings in Shire were worth $2,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SHPG. SeaCrest Wealth Management LLC bought a new stake in Shire in the fourth quarter valued at approximately $107,000. BB&T Investment Services Inc. boosted its holdings in Shire by 1,672.3% in the third quarter. BB&T Investment Services Inc. now owns 833 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 786 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Shire in the third quarter valued at approximately $159,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Shire by 277.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,253 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 921 shares during the last quarter. Finally, New England Research & Management Inc. bought a new stake in Shire in the third quarter valued at approximately $230,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Shire PLC (NASDAQ SHPG) opened at $133.97 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. Shire PLC has a 12 month low of $130.57 and a 12 month high of $192.15. The stock has a market capitalization of $42,240.00, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.41.

SHPG has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $213.00 price target on shares of Shire in a research note on Wednesday, October 11th. FBR & Co initiated coverage on Shire in a research note on Thursday, October 19th. They issued a “buy” rating and a $201.00 price target on the stock. Zacks Investment Research lowered Shire from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine raised Shire from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $160.00 price target on shares of Shire in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Shire has a consensus rating of “Hold” and a consensus target price of $212.50.

TRADEMARK VIOLATION WARNING: “Grimes & Company Inc. Trims Stake in Shire PLC (SHPG)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2018/02/07/grimes-company-inc-trims-stake-in-shire-plc-shpg.html.

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.

Want to see what other hedge funds are holding SHPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shire PLC (NASDAQ:SHPG).

Institutional Ownership by Quarter for Shire (NASDAQ:SHPG)

Receive News & Ratings for Shire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shire and related companies with MarketBeat.com's FREE daily email newsletter.