Shire sells cancer drugs to Servier for $2.4B as Takeda circles
Apr 16 2018 by Johnny Bowman
It has underperformed by 19.00% the S&P500.
Mairs & Power Inc decreased its stake in Shire Plc (SHPG) by 70.33% based on its latest 2017Q4 regulatory filing with the SEC. On Monday, February 5 the stock rating was maintained by RBC Capital Markets with "Buy". The hedge fund run by William Leland Edwards held 135,800 shares of the major pharmaceuticals company at the end of 2017Q4, valued at $21.07M, up from 130,200 at the end of the previous reported quarter. The stock increased 0.49% or $0.75 during the last trading session, reaching $152.94. About 16.62M shares traded.
A report in the Telegraph suggests that Takeda may struggle to raise the cash to acquire Shire - which could have a price tag as high as £35bn (around $50bn) - and is considering splitting up Shire and selling its neuroscience division to help finance the deal.
Investors sentiment decreased to 1.02 in Q4 2017. Its down 0.21, from 1.19 in 2017Q3. It is positive, as 69 investors sold AMZN shares while 578 reduced holdings. FNY Partners Fund LP lifted its position in Shire by 346.6% in the fourth quarter. Acadian Asset Mgmt Ltd Company holds 289,484 shares or 0.23% of its portfolio. It also reduced Abbvie (NYSE:ABBV) stake by 6,212 shares and now owns 26,375 shares. Timessquare Capital Mngmt Ltd Liability Company reported 0.69% in Coherent, Inc. It also increased its holding in Aflac Inc (NYSE:AFL) by 7,467 shares in the quarter, for a total of 67,024 shares, and has risen its stake in Micron Technology Inc (NASDAQ:MU). (NASDAQ:AMZN). Malaga Cove Limited Co has invested 1.25% of its portfolio in Amazon.com, Inc. (NASDAQ:COHR). Intrust Bankshares Na accumulated 1,381 shares. Hyman Charles D holds 0.03% of its portfolio in Cisco Systems, Inc. Moreover, Welch And Forbes Limited Co has 0.45% invested in Cisco Systems, Inc. (NASDAQ:CSCO). Paradigm Finance Advsrs owns 1.86% invested in Cisco Systems, Inc. Perigon Wealth Management Limited Liability Company reported 73,924 shares. Aperio Gp Lc has invested 0.02% in Coherent, Inc. Chilton Inv Ltd Company holds 451,565 shares. Huntington Comml Bank reported 175,226 shares or 0.52% of all its holdings.
Since December 15, 2017, it had 0 insider purchases, and 6 sales for $13.14 million activity. 1,372 shares were sold by Sechrist Paul F, worth $411,600. Piper Jaffray reiterated a hold rating on shares of Shire in a research note on Wednesday, January 3rd. Therefore 100% are positive. Shire plc (ADR) had 76 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was maintained by Longbow on Wednesday, June 28 with "Buy". The firm now has a "buy" rating on the biopharmaceutical company's stock. Stifel Nicolaus has "Buy" rating and $245.0 target. The firm earned "Outperform" rating on Tuesday, November 17 by Leerink Swann. Mairs & Power Inc sold 9,168 shares as the company's stock declined 17.82% with the market. (NASDAQ:COHR) earned "Buy" rating by Needham on Wednesday, November 8. OTR Global downgraded the shares of CSCO in report on Monday, October 31 to "Mixed" rating. The firm has "Overweight" rating by JP Morgan given on Friday, May 20. Needham maintained Coherent, Inc. Jefferies has "Buy" rating and $60.0 target.
Analysts await Intel Corporation (NASDAQ:INTC) to report earnings on April, 26.
The deal with Servier, which is headquartered in France, is expected to close in the second or third quarter of this year. SHPG's profit will be $1.07 billion for 10.63 P/E if the $3.58 EPS becomes a reality. During the same period in the previous year, the firm posted $3.37 earnings per share. analysts predict that Shire will post 15.23 EPS for the current fiscal year.
Zevin Asset Management Llc increased its stake in Costco Whsl Corp New (COST) by 3.49% based on its latest 2017Q4 regulatory filing with the SEC.