Traders Buy Allergan PLC (AGN) on Weakness
Traders purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading hours on Monday. $154.23 million flowed into the stock on the tick-up and $121.39 million flowed out of the stock on the tick-down, for a money net flow of $32.84 million into the stock. Of all companies tracked, Allergan PLC had the 9th highest net in-flow for the day. Allergan PLC traded down ($2.31) for the day and closed at $238.28
Several analysts have issued reports on the company. Citigroup Inc. restated a “buy” rating on shares of Allergan PLC in a research note on Sunday, May 29th. Morgan Stanley restated an “overweight” rating and issued a $300.00 target price on shares of Allergan PLC in a research note on Friday, May 13th. Piper Jaffray Cos. restated a “hold” rating and issued a $236.00 target price on shares of Allergan PLC in a research note on Saturday, June 18th. Leerink Swann decreased their price objective on Allergan PLC from $340.00 to $272.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 6th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Allergan PLC in a research note on Tuesday, May 31st. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $307.78.
The company’s 50-day moving average price is $236.54 and its 200-day moving average price is $258.85. The firm has a market capitalization of $94.25 billion and a price-to-earnings ratio of 21.32.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. The firm’s revenue was up 48.1% compared to the same quarter last year. On average, equities research analysts forecast that Allergan PLC will post $14.20 earnings per share for the current fiscal year.
In other news, Director Nesli Basgoz sold 459 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $225.10, for a total transaction of $103,320.90. Following the transaction, the director now directly owns 5,242 shares of the company’s stock, valued at $1,179,974.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Maria Teresa Hilado purchased 661 shares of Allergan PLC stock in a transaction dated Thursday, June 2nd. The shares were acquired at an average cost of $241.57 per share, for a total transaction of $159,677.77. Following the completion of the transaction, the chief financial officer now owns 11,957 shares of the company’s stock, valued at approximately $2,888,452.49. The disclosure for this purchase can be found here.
Other large investors recently made changes to their positions in the company. Seven Bridges Advisors LLC bought a new stake in shares of Allergan PLC during the fourth quarter worth $1,378,000. Sei Investments Co. raised its stake in shares of Allergan PLC by 42.2% in the fourth quarter. Sei Investments Co. now owns 398,222 shares of the company’s stock worth $124,445,000 after buying an additional 118,146 shares during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Allergan PLC during the fourth quarter worth $2,558,000. Mar Vista Investment Partners LLC raised its stake in shares of Allergan PLC by 10.3% in the fourth quarter. Mar Vista Investment Partners LLC now owns 352,077 shares of the company’s stock worth $110,024,000 after buying an additional 32,767 shares during the period. Finally, Tdam USA Inc. raised its stake in shares of Allergan PLC by 46.7% in the fourth quarter. Tdam USA Inc. now owns 38,002 shares of the company’s stock worth $11,876,000 after buying an additional 12,093 shares during the period.
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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