Brenner West Capital Advisors LLC cut its stake in shares of Allergan PLC (NYSE:AGN) by 19.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,900 shares of the company’s stock after selling 67,214 shares during the period. Allergan PLC makes up 5.4% of Brenner West Capital Advisors LLC’s portfolio, making the stock its 7th largest position. Brenner West Capital Advisors LLC owned approximately 0.07% of Allergan PLC worth $62,602,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Folger Hill Asset Management LP raised its stake in shares of Allergan PLC by 23.5% in the second quarter. Folger Hill Asset Management LP now owns 45,100 shares of the company’s stock valued at $10,422,000 after buying an additional 8,590 shares during the period. Bloom Tree Partners LLC raised its stake in shares of Allergan PLC by 2.1% in the second quarter. Bloom Tree Partners LLC now owns 176,859 shares of the company’s stock valued at $40,870,000 after buying an additional 3,674 shares during the period. Steinberg Global Asset Management raised its stake in shares of Allergan PLC by 17.6% in the second quarter. Steinberg Global Asset Management now owns 4,174 shares of the company’s stock valued at $965,000 after buying an additional 625 shares during the period. Rainier Investment Management LLC raised its stake in shares of Allergan PLC by 46.4% in the second quarter. Rainier Investment Management LLC now owns 85,502 shares of the company’s stock valued at $19,757,000 after buying an additional 27,090 shares during the period. Finally, Polar Capital LLP raised its stake in shares of Allergan PLC by 2,866.1% in the second quarter. Polar Capital LLP now owns 171,500 shares of the company’s stock valued at $39,630,000 after buying an additional 165,718 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Institutional Ownership by Quarter for Allergan PLC (NYSE:AGN)

Shares of Allergan PLC (NYSE:AGN) traded down 4.08% during mid-day trading on Friday, reaching $207.57. The company had a trading volume of 5,838,429 shares. The firm’s 50-day moving average is $223.79 and its 200 day moving average is $234.52. The company has a market capitalization of $77.86 billion, a price-to-earnings ratio of 5.82 and a beta of 1.08. Allergan PLC has a 12 month low of $186.34 and a 12 month high of $322.68.

Allergan PLC (NYSE:AGN) last posted its earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.65 by $0.33. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.73 billion. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.48 earnings per share. On average, equities research analysts predict that Allergan PLC will post $13.37 earnings per share 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 issued a dividend of $0.70 per share. This is a positive change from Allergan PLC’s previous quarterly dividend of $0.05. This represents a $2.80 annualized dividend and a yield of 1.35%.

Several equities research analysts have recently commented on AGN shares. Deutsche Bank AG reduced their target price on Allergan PLC from $282.00 to $278.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 target price for the company. in a report on Monday, August 8th. 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 raised Allergan PLC from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a report on Friday, July 15th. Finally, Leerink Swann set a $294.00 target price on Allergan PLC and gave the company a “buy” rating in a report on Monday, August 8th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Allergan PLC presently has an average rating of “Buy” and a consensus target price 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.

5 Day Chart for NYSE:AGN

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