Jarislowsky Fraser Ltd Increases Stake in Allergan PLC. (AGN)
Jarislowsky Fraser Ltd lifted its stake in shares of Allergan PLC. (NYSE:AGN) by 71.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,147 shares of the company’s stock after purchasing an additional 895 shares during the quarter. Jarislowsky Fraser Ltd’s holdings in Allergan PLC. were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in Allergan PLC. in the 1st quarter worth approximately $124,255,000. Vanguard Group Inc. grew its holdings in Allergan PLC. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after buying an additional 482,220 shares in the last quarter. Blue Ridge Capital L.L.C. grew 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 worth $456,313,000 after buying an additional 370,400 shares in the last quarter. Northern Trust Corp grew its holdings in Allergan PLC. by 8.8% in the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after buying an additional 364,722 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in Allergan PLC. by 28.6% during the 2nd quarter. Eaton Vance Management now owns 1,579,147 shares of the company’s stock valued at $383,875,000 after purchasing an additional 351,192 shares in the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.
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A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on Allergan PLC. from $228.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Cantor Fitzgerald decreased their price target on Allergan PLC. to $191.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $245.00 price target (down from $258.00) on shares of Allergan PLC. in a research note on Thursday, November 2nd. Royal Bank Of Canada decreased their price target on Allergan PLC. from $250.00 to $221.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised Allergan PLC. from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $246.73.
Allergan PLC. (NYSE AGN) traded up $0.84 during mid-day trading on Wednesday, reaching $172.66. The company had a trading volume of 600,422 shares, compared to its average volume of 2,913,987. Allergan PLC. has a fifty-two week low of $169.61 and a fifty-two week high of $256.80. The firm has a market capitalization of $58,005.82, a P/E ratio of 11.31, a PEG ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the business earned $3.32 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. research analysts predict that Allergan PLC. will post 16.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently -12.44%.
Allergan PLC. declared that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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