Brent L. Saunders Purchases 5,250 Shares of Allergan PLC (AGN) Stock
Allergan PLC (NYSE:AGN) CEO Brent L. Saunders acquired 5,250 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was acquired at an average cost of $189.13 per share, for a total transaction of $992,932.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Allergan PLC (NYSE:AGN) opened at 188.84 on Wednesday. The firm has a market cap of $70.83 billion, a P/E ratio of 5.30 and a beta of 1.08. The firm has a 50-day moving average of $215.80 and a 200-day moving average of $233.80. Allergan PLC has a 12-month low of $186.34 and a 12-month high of $322.68.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $3.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.65 by $0.33. The firm earned $3.62 billion during the quarter, compared to the consensus estimate of $3.73 billion. Allergan PLC had a net margin of 93.74% and a return on equity of 7.26%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.48 EPS. On average, analysts expect that Allergan PLC will post $13.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.48%. This is a boost from Allergan PLC’s previous quarterly dividend of $0.05.
Several equities research analysts have issued reports on the stock. William Blair assumed coverage on shares of Allergan PLC in a research note on Monday. They set a “market perform” rating on the stock. Mizuho decreased their price target on shares of Allergan PLC from $293.00 to $273.00 and set a “buy” rating on the stock in a research note on Thursday, November 17th. Vetr cut shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $235.38 price target on the stock. in a research note on Wednesday, November 9th. RBC Capital Markets reaffirmed an “outperform” rating and set a $279.00 price target (down from $300.00) on shares of Allergan PLC in a research note on Thursday, November 3rd. Finally, Morgan Stanley decreased their price target on shares of Allergan PLC from $300.00 to $274.00 and set an “overweight” rating on the stock in a research note on Thursday, November 3rd. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $289.11.
A number of large investors have recently made changes to their positions in the company. Veritas Asset Management LLP bought a new stake in shares of Allergan PLC during the second quarter worth about $492,177,000. Lazard Asset Management LLC boosted its stake in shares of Allergan PLC by 53.8% in the third quarter. Lazard Asset Management LLC now owns 3,017,790 shares of the company’s stock worth $695,025,000 after buying an additional 1,055,305 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Allergan PLC during the second quarter worth about $231,671,000. The Manufacturers Life Insurance Company bought a new stake in shares of Allergan PLC during the third quarter worth about $230,322,000. Finally, Appaloosa LP boosted its stake in shares of Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock worth $291,360,000 after buying an additional 981,700 shares during the last quarter. 89.21% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This news story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be read at https://www.thecerbatgem.com/2016/11/23/brent-l-saunders-purchases-5250-shares-of-allergan-plc-agn-stock.html.
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.
Receive News & Stock Ratings for Allergan PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC and related stocks with our FREE daily email newsletter.