Allergan PLC. (AGN) is MD Sass Investors Services Inc.’s 2nd Largest Position
MD Sass Investors Services Inc. lifted its holdings in Allergan PLC. (NYSE:AGN) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,265 shares of the company’s stock after buying an additional 28,089 shares during the period. Allergan PLC. makes up 5.0% of MD Sass Investors Services Inc.’s holdings, making the stock its 2nd biggest position. MD Sass Investors Services Inc. owned 0.09% of Allergan PLC. worth $76,636,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of AGN. Veritas Asset Management LLP purchased a new stake in Allergan PLC. during the 1st quarter valued at about $761,339,000. Iridian Asset Management LLC CT raised its holdings in Allergan PLC. by 141.3% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after acquiring an additional 751,848 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Allergan PLC. in the 1st quarter valued at about $124,255,000. Blue Ridge Capital L.L.C. raised its holdings in Allergan PLC. by 24.1% in the 1st quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after acquiring an additional 370,400 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in Allergan PLC. by 28.6% in the 2nd quarter. Eaton Vance Management now owns 1,579,147 shares of the company’s stock valued at $383,875,000 after acquiring an additional 351,192 shares during the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Allergan PLC. (NYSE AGN) opened at 204.95 on Monday. The company has a 50 day moving average price of $229.79 and a 200 day moving average price of $236.07. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80. The stock has a market cap of $68.52 billion, a P/E ratio of 6.24 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping the consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $3.35 earnings per share. Allergan PLC.’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts anticipate that Allergan PLC. will post $16.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.37%. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
Allergan PLC. announced that its board has approved a share repurchase program on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of research firms have weighed in on AGN. Cowen and Company set a $400.00 target price on shares of Allergan PLC. and gave the stock a “buy” rating in a research note on Thursday, June 8th. Mizuho lowered their target price on Allergan PLC. from $275.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, June 9th. Royal Bank Of Canada set a $284.00 price target on Allergan PLC. and gave the company a “buy” rating in a research report on Monday, June 12th. Cantor Fitzgerald assumed coverage on Allergan PLC. in a research report on Friday, June 16th. They issued a “neutral” rating and a $231.00 price target for the company. Finally, BidaskClub raised Allergan PLC. from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $271.84.
Allergan PLC. 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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