Traders Sell Allergan PLC (AGN) on Strength on Analyst Downgrade
Traders sold shares of Allergan PLC (NYSE:AGN) on strength during trading on Friday 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 equities tracked, Allergan PLC had the 24th highest net out-flow for the day. Allergan PLC traded up $4.44 for the day and closed at $199.98
Other analysts have also recently issued reports about the company. Deutsche Bank AG set a $278.00 price objective on Allergan PLC and gave the company a “buy” rating in a research report on Saturday, October 15th. Vetr cut 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. RBC Capital Markets restated an “outperform” rating and issued a $300.00 price objective (down from $307.00) on shares of Allergan PLC in a research report on Wednesday, August 10th. Leerink Swann set a $294.00 price objective on Allergan PLC and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. set a $325.00 price objective on Allergan PLC and gave the company a “buy” rating in a research report on Friday, August 5th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Allergan PLC presently has a consensus rating of “Buy” and an average price target of $289.11.
In related news, CFO Maria Teresa Hilado purchased 1,422 shares of the business’s stock in a transaction on Friday, November 11th. The shares were bought at an average price of $210.64 per share, for a total transaction of $299,530.08. Following the acquisition, the chief financial officer now directly owns 12,659 shares in the company, valued at $2,666,491.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
A number of large investors have recently modified their holdings of AGN. Rail Splitter Capital Management LLC increased its stake in shares of Allergan PLC by 53.8% in the second quarter. Rail Splitter Capital Management LLC now owns 54,169 shares of the company’s stock valued at $12,518,000 after buying an additional 18,945 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Allergan PLC by 12.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,402,893 shares of the company’s stock worth $324,195,000 after buying an additional 156,959 shares during the last quarter. Montag & Caldwell LLC increased its position in Allergan PLC by 16.2% in the second quarter. Montag & Caldwell LLC now owns 687,035 shares of the company’s stock worth $158,767,000 after buying an additional 95,951 shares during the last quarter. Arizona State Retirement System increased its position in Allergan PLC by 0.9% in the first quarter. Arizona State Retirement System now owns 108,577 shares of the company’s stock worth $29,102,000 after buying an additional 1,000 shares during the last quarter. Finally, Johnston Asset Management LLC acquired a new position in Allergan PLC during the second quarter worth approximately $134,170,000. Institutional investors own 85.20% of the company’s stock.
The company’s 50-day moving average price is $219.19 and its 200-day moving average price is $233.94. The firm has a market cap of $75.31 billion, a price-to-earnings ratio of 5.38 and a beta of 1.08.
Allergan PLC (NYSE:AGN) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.65 by $0.33. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the business earned $3.48 EPS. Allergan PLC’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that Allergan PLC will post $13.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, February 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.46%. This is a boost from Allergan PLC’s previous quarterly dividend of $0.05.
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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