Stephens Inc. AR Purchases New Stake in Allergan PLC. (AGN)
Stephens Inc. AR purchased a new position in shares of Allergan PLC. (NYSE:AGN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 28,208 shares of the company’s stock, valued at approximately $5,781,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Allergan PLC. during the third quarter worth approximately $332,000. Columbia Partners L L C Investment Management acquired a new stake in shares of Allergan PLC. during the third quarter worth approximately $1,097,000. Iridian Asset Management LLC CT grew its position in shares of Allergan PLC. by 11.8% during the third quarter. Iridian Asset Management LLC CT now owns 1,633,949 shares of the company’s stock worth $334,878,000 after buying an additional 172,571 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Allergan PLC. by 2.3% during the third quarter. Macquarie Group Ltd. now owns 589,282 shares of the company’s stock worth $120,773,000 after buying an additional 13,512 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new stake in shares of Allergan PLC. during the third quarter worth approximately $1,075,000. 81.65% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan PLC. (NYSE:AGN) traded up $0.07 during midday trading on Monday, hitting $174.88. 2,819,300 shares of the company were exchanged, compared to its average volume of 2,909,662. Allergan PLC. has a fifty-two week low of $169.61 and a fifty-two week high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $58,160.00, a PE ratio of 11.34, a P/E/G ratio of 1.11 and a beta of 1.12.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the business earned $3.32 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. analysts expect that Allergan PLC. will post 16.28 EPS for the current year.
Allergan PLC. announced that its Board of Directors has approved a stock repurchase program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is currently -12.39%.
A number of research firms have recently weighed in on AGN. UBS AG reissued an “outperform” rating and set a $275.00 price target on shares of Allergan PLC. in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Wells Fargo & Company reissued an “outperform” rating and set a $280.00 price target (up previously from $270.00) on shares of Allergan PLC. in a research report on Wednesday, August 9th. Argus reissued a “buy” rating and set a $280.00 price target on shares of Allergan PLC. in a research report on Monday, August 14th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Allergan PLC. in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Allergan PLC. currently has a consensus rating of “Hold” and an average target price of $246.73.
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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