Envestnet Asset Management INC Cut Position in Shire Plc (SHPG) as Stock Rose

September 30, 2018 - By Victoria Pittman

Shire plc (NASDAQ:SHPG) Logo

Envestnet Asset Management Inc decreased its stake in Shire Plc (SHPG) by 51.8% based on its latest 2018Q2 regulatory filing with the SEC. Envestnet Asset Management Inc sold 17,880 shares as the company’s stock rose 7.09% with the market. The institutional investor held 16,636 shares of the major pharmaceuticals company at the end of 2018Q2, valued at $2.81 million, down from 34,516 at the end of the previous reported quarter. Envestnet Asset Management Inc who had been investing in Shire Plc for a number of months, seems to be less bullish one the $53.73 billion market cap company. The stock increased 0.03% or $0.05 during the last trading session, reaching $181.27. About 865,829 shares traded or 17.85% up from the average. Shire plc (NASDAQ:SHPG) has risen 6.31% since September 30, 2017 and is uptrending. It has underperformed by 9.31% the S&P500.

Envestnet Asset Management Inc, which manages about $60.39 billion and $43.79 billion US Long portfolio, upped its stake in Coca Cola Co (NYSE:KO) by 288,027 shares to 634,747 shares, valued at $27.84M in 2018Q2, according to the filing. It also increased its holding in Starbucks Corp (NASDAQ:SBUX) by 443,251 shares in the quarter, for a total of 691,211 shares, and has risen its stake in Relx Nv.

Analysts await Shire plc (NASDAQ:SHPG) to report earnings on October, 26. They expect $3.67 EPS, down 3.67 % or $0.14 from last year’s $3.81 per share. SHPG’s profit will be $1.09B for 12.35 P/E if the $3.67 EPS becomes a reality. After $3.88 actual EPS reported by Shire plc for the previous quarter, Wall Street now forecasts -5.41 % negative EPS growth.

More important recent Shire plc (NASDAQ:SHPG) news were published by: Seekingalpha.com which released: “Shire advancing debt purchase offer” on September 10, 2018, also Seekingalpha.com published article titled: “Takeda gets Shire clearance from China”, Seekingalpha.com published: “Key events next week – healthcare” on September 21, 2018. More interesting news about Shire plc (NASDAQ:SHPG) was released by: Seekingalpha.com and their article: “Shire’s Firazyr OK’d Japan for HAE attacks” with publication date: September 21, 2018.

Shire plc (NASDAQ:SHPG) Ratings Coverage

Among 4 analysts covering Shire (NASDAQ:SHPG), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Shire had 4 analyst reports since April 19, 2018 according to SRatingsIntel. The stock of Shire plc (NASDAQ:SHPG) has “Market Perform” rating given on Tuesday, September 4 by Evercore. The stock has “Buy” rating by RBC Capital Markets on Friday, April 20. Cantor Fitzgerald maintained Shire plc (NASDAQ:SHPG) on Thursday, April 26 with “Buy” rating.

Shire plc (NASDAQ:SHPG) Institutional Positions Chart

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