Cacti Asset Management LLC Purchases 3,025 Shares of Allergan PLC (AGN)
Cacti Asset Management LLC boosted its stake in Allergan PLC (NYSE:AGN) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,275 shares of the company’s stock after buying an additional 3,025 shares during the period. Allergan PLC makes up approximately 4.5% of Cacti Asset Management LLC’s portfolio, making the stock its largest position. Cacti Asset Management LLC’s holdings in Allergan PLC were worth $43,822,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. AMP Capital Investors Ltd increased its stake in Allergan PLC by 4.9% in the first quarter. AMP Capital Investors Ltd now owns 163,096 shares of the company’s stock valued at $44,844,000 after buying an additional 7,588 shares during the last quarter. Arizona State Retirement System increased its stake in Allergan PLC by 0.9% in the first quarter. Arizona State Retirement System now owns 108,577 shares of the company’s stock valued at $29,102,000 after buying an additional 1,000 shares during the last quarter. Intermede Investment Partners Ltd bought a new stake in Allergan PLC during the second quarter valued at $37,790,000. Retirement Systems of Alabama increased its stake in Allergan PLC by 15.0% in the second quarter. Retirement Systems of Alabama now owns 336,058 shares of the company’s stock valued at $77,660,000 after buying an additional 43,898 shares during the last quarter. Finally, LPL Financial LLC increased its stake in Allergan PLC by 21.5% in the first quarter. LPL Financial LLC now owns 130,911 shares of the company’s stock valued at $30,976,000 after buying an additional 23,160 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
Shares of Allergan PLC (NYSE:AGN) opened at 232.75 on Tuesday. The firm has a market cap of $92.16 billion, a price-to-earnings ratio of 22.16 and a beta of 0.81. The company has a 50-day moving average price of $241.85 and a 200-day moving average price of $239.87. Allergan PLC has a 12 month low of $195.50 and a 12 month high of $322.68.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.01. The company earned $3.68 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.41 earnings per share. Analysts forecast that Allergan PLC will post $14.00 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Allergan PLC in a report on Wednesday, July 6th. Leerink Swann boosted their price objective on Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research downgraded Allergan PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Vetr upgraded Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 target price on the stock in a report on Monday, August 1st. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $300.64.
About Allergan PLC
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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