Investors Buy Allergan PLC. (AGN) on Weakness
Traders purchased shares of Allergan PLC. (NYSE:AGN) on weakness during trading on Tuesday. $292.59 million flowed into the stock on the tick-up and $251.06 million flowed out of the stock on the tick-down, for a money net flow of $41.53 million into the stock. Of all stocks tracked, Allergan PLC. had the 14th highest net in-flow for the day. Allergan PLC. traded down ($0.63) for the day and closed at $197.78
Several equities research analysts have weighed in on the company. Deutsche Bank AG set a $251.00 price objective on Allergan PLC. and gave the stock a “buy” rating in a report on Tuesday. UBS AG reiterated an “outperform” rating and issued a $275.00 price objective on shares of Allergan PLC. in a report on Wednesday, August 9th. BidaskClub cut Allergan PLC. from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Piper Jaffray Companies set a $227.00 price objective on Allergan PLC. and gave the stock a “hold” rating in a report on Friday. Finally, Zacks Investment Research cut Allergan PLC. from a “hold” rating to a “sell” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Allergan PLC. currently has an average rating of “Hold” and a consensus price target of $268.74.
The company has a market capitalization of $66.12 billion, a P/E ratio of 6.03 and a beta of 1.15. The firm’s 50-day moving average price is $215.75 and its 200-day moving average price is $231.93.
Allergan PLC. (NYSE:AGN) last posted its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.07. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. Allergan PLC.’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.35 earnings per share. On average, equities research analysts forecast that Allergan PLC. will post $16.20 earnings per share for the current year.
Allergan PLC. announced that its Board of Directors has approved a stock repurchase plan on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of AGN. Veritas Asset Management LLP purchased a new stake in shares of Allergan PLC. during the 1st quarter valued at $761,339,000. Iridian Asset Management LLC CT lifted its holdings in shares of Allergan PLC. by 141.3% during 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 purchasing an additional 751,848 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Allergan PLC. during the 1st quarter valued at $124,255,000. Vanguard Group Inc. lifted its holdings in shares of Allergan PLC. by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after purchasing an additional 482,220 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. lifted its holdings in shares of Allergan PLC. by 24.1% during 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 purchasing an additional 370,400 shares during the last quarter. Hedge funds and other institutional investors own 81.94% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/10/17/investors-buy-allergan-plc-agn-on-weakness.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.