Highline Capital Management LLC Has Lowered Its Shire Plc (SHPG) Holding as Stock Price Rose

July 18, 2017 - By Dolores Ford

Jacob Doft decreased its stake in Shire Plc (SHPG) by 31.38% based on its latest 2016Q4 regulatory filing with the SEC. Highline Capital Management Llc sold 311,900 shares as the company’s stock rose 4.45% with the market. The hedge fund run by Jacob Doft held 682,200 shares of the major pharmaceuticals company at the end of 2016Q4, valued at $116.23 million, down from 994,100 at the end of the previous reported quarter. Highline Capital Management Llc who had been investing in Shire Plc for a number of months, seems to be less bullish one the $49.67 billion market cap company. The stock declined 0.24% or $0.39 reaching $163.35 per share. About 13,650 shares traded. Shire PLC (ADR) (NASDAQ:SHPG) has risen 4.69% since July 18, 2016 and is uptrending. It has underperformed by 12.01% the S&P500.

Highline Capital Management Llc, which manages about $3.04B and $3.50 billion US Long portfolio, upped its stake in Molson Coors Brewing Co (NYSE:TAP) by 909,839 shares to 1.15M shares, valued at $112.36M in 2016Q4, according to the filing. It also increased its holding in Cit Group Inc (NYSE:CIT) by 3.36M shares in the quarter, for a total of 4.23M shares, and has risen its stake in Kite Pharma Inc (NASDAQ:KITE).

Analysts await Shire PLC (ADR) (NASDAQ:SHPG) to report earnings on August, 1. They expect $3.61 EPS, up 6.80 % or $0.23 from last year’s $3.38 per share. SHPG’s profit will be $1.10 billion for 11.31 P/E if the $3.61 EPS becomes a reality. After $3.63 actual EPS reported by Shire PLC (ADR) for the previous quarter, Wall Street now forecasts -0.55 % negative EPS growth.

More news for Shire PLC (ADR) (NASDAQ:SHPG) were recently published by: Benzinga.com, which released: “Analyst: Shire Shares Should Rebound, But Sustained Rally Unlikely” on July 12, 2017. Marketwatch.com‘s article titled: “Shire ADRs jump almost 7% premarket after positive trial of Angioedema treatment” and published on May 18, 2017 is yet another important article.

Shire PLC (ADR) (NASDAQ:SHPG) Ratings Coverage

Among 21 analysts covering Shire plc (ADR) (NASDAQ:SHPG), 18 have Buy rating, 0 Sell and 3 Hold. Therefore 86% are positive. Shire plc (ADR) had 39 analyst reports since July 22, 2015 according to SRatingsIntel. The company was maintained on Friday, June 9 by Jefferies. The rating was upgraded by Leerink Swann to “Outperform” on Tuesday, November 17. The firm has “Buy” rating by RBC Capital Markets given on Monday, July 10. The stock of Shire PLC (ADR) (NASDAQ:SHPG) earned “Sector Perform” rating by RBC Capital Markets on Monday, September 28. The stock has “Buy” rating by Cantor Fitzgerald on Friday, June 30. HSBC upgraded Shire PLC (ADR) (NASDAQ:SHPG) on Wednesday, September 30 to “Hold” rating. The company was maintained on Friday, May 20 by JP Morgan. The company was upgraded on Friday, January 15 by Bank of America. Cowen & Co maintained Shire PLC (ADR) (NASDAQ:SHPG) rating on Wednesday, May 31. Cowen & Co has “Buy” rating and $32500 target. The stock of Shire PLC (ADR) (NASDAQ:SHPG) earned “Neutral” rating by BNP Paribas on Thursday, August 6.

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