Shire PLC (SHPG) Issues FY17 Earnings Guidance

Paterniano Del Favero
Agosto 3, 2017

Non GAAP earnings per ADS for the second-quarter increased 10% to $3.73 from $3.38 previous year, as higher Non GAAP operating income more than offset the impact of additional shares issued as consideration for the Baxalta transaction.

Shire shares have declined almost 2 percent since the beginning of the year. The business is scheduled to issue its next earnings report before the market opens on Thursday, August 3rd.

For 2017, the company now expects earnings per ADS to be in the range of $5.65 - $6.05, non-GAAP earnings per ADS of $14.80 - $15.20, and Total product sales of $14.3 billion- $14.6 billion. For the next financial year, analysts anticipate that the business will report sales of $16.51 billion per share, with estimates ranging from $15.50 billion to $18.38 billion.

Shire PLC (NASDAQ:SHPG) updated its FY17 earnings guidance on Thursday. Shire PLC had a return on equity of 13.05% and a net margin of 2.14%.

Several equities research analysts have issued reports on the stock. Goldman Sachs Group, Inc. Shire PLC has an average rating of "Buy" and a consensus price target of $223.64. Finally, ValuEngine lowered shares of Shire PLC from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd. BidaskClub downgraded Shire PLC from a "sell" rating to a "strong sell" rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. The company now has an average rating of "Buy" and a consensus price target of $223.64. Russell Investments Group Ltd. purchased a new stake in Shire PLC during the fourth quarter valued at $505,000.

Hard on the heels of winning an approval for its long-lasting version of Adderall for ADHD, Shire says it's now considering spinning off its blockbuster franchise drugs in that field into a new public company, marking a final restructuring that will leave the Boston-based biotech focused on rare diseases. Dividend Assets Capital LLC boosted its position in shares of Shire PLC by 45.9% in the second quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company's stock valued at $249,755,000 after buying an additional 1,400,275 shares during the period.

The biggest institutional shareholders in Shire plc include Jennison Associates LLC which owns 6 million shares in the company valued at $1.13 B million.

Hedge funds have recently bought and sold shares of the stock.

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Shire PLC (NASDAQ:SHPG) was the recipient of a significant growth in short interest in the month of July.

The year-earlier period only included around one month's sales from Baxalta, which Shire formally acquired on June 3 in 2016. The stock has a market capitalization of $49.77 billion, a P/E ratio of 171.38 and a beta of 1.60. Relying on its mainstay drugs for a steady source of cash, Shire bagged Baxalta past year in a $32 billion buyout, setting the company on course to streamline operations and focus on building its rep for rare diseases.

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