The Wells Fargo & Company MN Has $84,760,000 Position in Shire PLC (SHPG)

The Wells Fargo & Company MN Has $84,760,000 Position in Shire PLC (SHPG)

Wells Fargo & Company MN lowered its position in Shire PLC (NASDAQ:SHPG) by 8.7% during the third quarter, Holdings Channel reports. The fund owned 437,225 shares of the biopharmaceutical company’s stock after selling 41,812 shares during the period. Wells Fargo & Company MN’s holdings in Shire PLC were worth $84,760,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lone Pine Capital LLC purchased a new position in Shire PLC during the second quarter valued at $465,566,000. Capital World Investors purchased a new position in Shire PLC during the second quarter valued at $285,568,000. Vanguard Group Inc. purchased a new position in Shire PLC during the second quarter valued at $278,421,000. FMR LLC increased its position in Shire PLC by 86.7% in the second quarter. FMR LLC now owns 2,663,506 shares of the biopharmaceutical company’s stock valued at $490,297,000 after buying an additional 1,237,100 shares in the last quarter. Finally, Marshall Wace LLP increased its position 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 valued at $194,365,000 after buying an additional 1,026,534 shares in the last quarter. 22.75% of the stock is owned by hedge funds and other institutional investors.

Shire PLC (NASDAQ:SHPG) opened at 161.71 on Friday. Shire PLC has a 12-month low of $147.60 and a 12-month high of $209.22. The stock has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00.

Shire PLC (NASDAQ:SHPG) last posted its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $3.17 earnings per share 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 analysts’ expectations 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 for the quarter was up 108.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.24 EPS. Equities research analysts anticipate that Shire PLC will post $12.95 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on SHPG. Leerink Swann reiterated a “buy” rating on shares of Shire PLC in a research note on Saturday, October 1st. Piper Jaffray Cos. set a $201.00 price objective on Shire PLC and gave the company a “hold” rating in a research note on Saturday, October 1st. BTIG Research reiterated a “buy” rating and issued a $242.00 price objective on shares of Shire PLC in a research note on Friday, December 23rd. Jefferies Group reiterated a “buy” rating and issued a $248.00 price objective on shares of Shire PLC in a research note on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Shire PLC in a research note on Monday, September 26th. Four equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Shire PLC currently has an average rating of “Buy” and a consensus target price of $226.00.

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.

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