Adage Capital Partners GP L.L.C. Boosts Position in Allergan PLC (AGN)
Adage Capital Partners GP L.L.C. boosted its stake in shares of Allergan PLC (NYSE:AGN) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,402,893 shares of the company’s stock after buying an additional 156,959 shares during the period. Allergan PLC accounts for approximately 0.9% of Adage Capital Partners GP L.L.C.’s holdings, making the stock its 16th largest position. Adage Capital Partners GP L.L.C. owned 0.35% of Allergan PLC worth $324,195,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AGN. Motco increased its position in Allergan PLC by 0.7% in the second quarter. Motco now owns 1,202 shares of the company’s stock valued at $278,000 after buying an additional 8 shares in the last quarter. Pure Financial Advisors Inc. increased its position in shares of Allergan PLC by 0.4% in the second quarter. Pure Financial Advisors Inc. now owns 2,596 shares of the company’s stock worth $600,000 after buying an additional 10 shares during the period. YHB Investment Advisors Inc. increased its position in shares of Allergan PLC by 0.4% in the second quarter. YHB Investment Advisors Inc. now owns 4,899 shares of the company’s stock worth $1,132,000 after buying an additional 18 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Allergan PLC by 2.2% in the second quarter. Kistler Tiffany Companies LLC now owns 920 shares of the company’s stock worth $213,000 after buying an additional 20 shares during the period. Finally, Miracle Mile Advisors LLC increased its position in shares of Allergan PLC by 0.4% in the second quarter. Miracle Mile Advisors LLC now owns 4,860 shares of the company’s stock worth $1,200,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Allergan PLC (NYSE:AGN) traded down 4.08% during mid-day trading on Friday, hitting $207.57. The company had a trading volume of 5,838,429 shares. Allergan PLC has a 52 week low of $186.34 and a 52 week high of $322.68. The company has a market capitalization of $77.86 billion, a price-to-earnings ratio of 5.82 and a beta of 1.08. The firm’s 50 day moving average is $223.79 and its 200 day moving average is $234.52.
Allergan PLC (NYSE:AGN) last issued its earnings results on Wednesday, November 2nd. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $3.65 by $0.33. Allergan PLC had a net margin of 93.74% and a return on equity of 7.26%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the business posted $3.48 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Allergan PLC will post $13.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.35%. This is an increase from Allergan PLC’s previous quarterly dividend of $0.05.
A number of equities analysts have recently issued reports on the company. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price objective for the company. in a research report on Monday, August 8th. JPMorgan Chase & Co. set a $325.00 price objective on Allergan PLC and gave the stock a “buy” rating in a research report on Friday, August 5th. Mizuho raised their price objective on Allergan PLC from $232.00 to $246.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. RBC Capital Markets restated an “outperform” rating and set a $300.00 price objective (down from $307.00) on shares of Allergan PLC in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG set a $322.00 target price on Allergan PLC and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $290.07.
Allergan PLC Company Profile
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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