Traders Buy Shares of Allergan PLC (AGN) on Weakness
Investors purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading on Friday. $190.43 million flowed into the stock on the tick-up and $128.10 million flowed out of the stock on the tick-down, for a money net flow of $62.33 million into the stock. Of all stocks tracked, Allergan PLC had the 24th highest net in-flow for the day. Allergan PLC traded down ($1.70) for the day and closed at $242.51
AGN has been the subject of a number of research reports. Citigroup Inc. restated a “buy” rating and set a $285.00 target price (down from $360.00) on shares of Allergan PLC in a report on Thursday, April 7th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Allergan PLC in a report on Wednesday, July 6th. Royal Bank Of Canada restated an “outperform” rating and set a $354.00 target price on shares of Allergan PLC in a report on Tuesday, April 5th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Allergan PLC in a report on Saturday, June 25th. Finally, Susquehanna cut shares of Allergan PLC from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $345.00 to $275.00 in a report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $306.06.
The company has a market cap of $95.93 billion and a P/E ratio of 21.70. The stock has a 50-day moving average of $238.09 and a 200-day moving average of $257.62.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $3.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.01. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.97 billion. Allergan PLC’s revenue for the quarter was up 48.1% compared to the same quarter last year. Analysts forecast that Allergan PLC will post $14.20 earnings per share for the current year.
In related news, CFO Maria Teresa Hilado acquired 661 shares of the stock in a transaction dated Thursday, June 2nd. The stock was bought at an average price of $241.57 per share, with a total value of $159,677.77. Following the completion of the transaction, the chief financial officer now directly owns 11,957 shares of the company’s stock, valued at $2,888,452.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nesli Basgoz sold 459 shares of the 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 sale, the director now directly owns 5,242 shares of the company’s stock, valued at approximately $1,179,974.20. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in AGN. Twin Capital Management Inc. increased its position in Allergan PLC by 0.6% in the fourth quarter. Twin Capital Management Inc. now owns 4,379 shares of the company’s stock worth $1,368,000 after buying an additional 26 shares during the period. Boston Family Office LLC increased its position in Allergan PLC by 1.0% in the fourth quarter. Boston Family Office LLC now owns 7,123 shares of the company’s stock worth $2,226,000 after buying an additional 70 shares during the period. Spectrum Management Group Inc. increased its position in Allergan PLC by 1.7% in the fourth quarter. Spectrum Management Group Inc. now owns 4,874 shares of the company’s stock worth $1,523,000 after buying an additional 80 shares during the period. Ameritas Investment Partners Inc. increased its position in Allergan PLC by 2.1% in the fourth quarter. Ameritas Investment Partners Inc. now owns 7,544 shares of the company’s stock worth $2,357,000 after buying an additional 158 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in Allergan PLC by 0.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 26,866 shares of the company’s stock worth $8,395,000 after buying an additional 179 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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