APG Asset Management N.V. cut its position in Shire PLC (NASDAQ:SHPG) by 19.0% during the third quarter, Holdings Channel reports. The fund owned 2,798 shares of the biopharmaceutical company’s stock after selling 656 shares during the period. APG Asset Management N.V.’s holdings in Shire PLC were worth $542,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Lone Pine Capital LLC purchased a new stake in Shire PLC during the second quarter worth about $465,566,000. Capital World Investors purchased a new stake in Shire PLC during the second quarter worth about $285,568,000. Vanguard Group Inc. purchased a new stake in Shire PLC during the second quarter worth about $278,421,000. FMR LLC increased its stake in Shire PLC by 86.7% in the second quarter. FMR LLC now owns 2,663,506 shares of the biopharmaceutical company’s stock worth $490,297,000 after buying an additional 1,237,100 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Shire PLC by 3,498.9% in the second quarter. Marshall Wace LLP now owns 1,055,873 shares of the biopharmaceutical company’s stock worth $194,365,000 after buying an additional 1,026,534 shares during the last quarter. 24.49% of the stock is currently owned by institutional investors and hedge funds.
Shire PLC (NASDAQ:SHPG) traded up 0.78% on Friday, hitting $175.23. The stock had a trading volume of 908,697 shares. The firm’s 50-day moving average is $180.43 and its 200-day moving average is $187.45. Shire PLC has a 52-week low of $147.60 and a 52-week high of $215.05.
Shire PLC (NASDAQ:SHPG) last posted its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by $0.04. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.57 billion. Shire PLC had a return on equity of 14.81% and a net margin of 1.62%. Shire PLC’s revenue was up 108.6% compared to the same quarter last year. During the same period last year, the business earned $3.24 EPS. Analysts expect that Shire PLC will post $12.93 earnings per share for the current year.
SHPG has been the topic of a number of research reports. Citigroup Inc. reaffirmed a “buy” rating on shares of Shire PLC in a research note on Thursday, November 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Shire PLC in a research note on Monday, November 7th. Jefferies Group reaffirmed a “buy” rating and issued a $262.00 price objective on shares of Shire PLC in a research note on Wednesday, September 7th. Zacks Investment Research raised Shire PLC from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a research note on Friday, October 21st. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Shire PLC in a report on Sunday, October 16th. Four equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $222.06.
About Shire PLC
Shire plc is a biotech company. The Company, along with its subsidiaries, is engaged in developing and marketing medicines for patients with rare diseases and other select conditions. The Company operates in the segment of research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines.