Investors Sell Shares of Allergan PLC (AGN) on Strength Following Analyst Downgrade
Traders sold shares of Allergan PLC (NYSE:AGN) on strength during trading on Thursday after Mizuho lowered their price target on the stock from $293.00 to $273.00. $161.78 million flowed into the stock on the tick-up and $192.29 million flowed out of the stock on the tick-down, for a money net flow of $30.51 million out of the stock. Of all companies tracked, Allergan PLC had the 0th highest net out-flow for the day. Allergan PLC traded up $4.44 for the day and closed at $199.98
Several other research analysts have also issued reports on AGN. Credit Suisse Group AG assumed coverage on Allergan PLC in a research report on Monday, July 25th. They issued an “outperform” rating and a $327.00 target price for the company. Vetr raised Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 target price for the company in a research report on Monday, July 25th. Zacks Investment Research lowered Allergan PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Leerink Swann increased their target price on Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the stock a “buy” rating in a research report on Friday, August 5th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $289.11.
In other Allergan PLC news, CFO Maria Teresa Hilado purchased 1,422 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were acquired at an average cost of $210.64 per share, with a total value of $299,530.08. Following the completion of the acquisition, the chief financial officer now directly owns 12,659 shares in the company, valued at $2,666,491.76. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.
A number of large investors have recently bought and sold shares of AGN. Scout Investments Inc. acquired a new stake in Allergan PLC during the third quarter worth approximately $507,000. Colony Group LLC boosted its stake in Allergan PLC by 11.4% in the third quarter. Colony Group LLC now owns 2,255 shares of the company’s stock worth $519,000 after buying an additional 231 shares in the last quarter. Delphi Management Inc. MA boosted its stake in Allergan PLC by 0.6% in the third quarter. Delphi Management Inc. MA now owns 6,405 shares of the company’s stock worth $1,475,000 after buying an additional 40 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in Allergan PLC by 2.3% in the third quarter. Mosaic Family Wealth LLC now owns 1,101 shares of the company’s stock worth $254,000 after buying an additional 25 shares in the last quarter. Finally, Covington Capital Management boosted its stake in Allergan PLC by 12.2% in the third quarter. Covington Capital Management now owns 17,867 shares of the company’s stock worth $4,115,000 after buying an additional 1,947 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.
The firm has a market cap of $75.01 billion, a price-to-earnings ratio of 5.61 and a beta of 1.08. The company’s 50 day moving average price is $220.24 and its 200-day moving average price is $234.18.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $3.65 by $0.33. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Allergan PLC had a net margin of 93.74% and a return on equity of 7.26%. Allergan PLC’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $3.48 earnings per share. Equities analysts predict that Allergan PLC will post $13.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.40%.
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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