Investors Sell Shares of Allergan PLC (AGN) on Strength (AGN)
Traders sold shares of Allergan PLC (NYSE:AGN) on strength during trading on Wednesday. $122.98 million flowed into the stock on the tick-up and $192.22 million flowed out of the stock on the tick-down, for a money net flow of $69.24 million out of the stock. Of all stocks tracked, Allergan PLC had the 0th highest net out-flow for the day. Allergan PLC traded up $4.31 for the day and closed at $246.95
Several equities analysts have recently weighed in on the company. Morgan Stanley restated a “buy” rating on shares of Allergan PLC in a report on Saturday, April 9th. Goldman Sachs Group Inc. cut Allergan PLC to a “buy” rating in a report on Saturday, May 14th. Citigroup Inc. reiterated a “buy” rating on shares of Allergan PLC in a report on Sunday, May 29th. Piper Jaffray Cos. reiterated a “hold” rating and set a $236.00 price target on shares of Allergan PLC in a report on Saturday, June 18th. Finally, Mizuho cut Allergan PLC from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $330.00 to $250.00 in a report on Wednesday, April 6th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $306.06.
The company’s 50-day moving average is $238.79 and its 200 day moving average is $256.11. The stock has a market capitalization of $97.68 billion and a price-to-earnings ratio of 22.10.
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 Zacks’ consensus estimate of $3.03 by $0.01. The firm earned $3.80 billion during the quarter, compared to the consensus estimate of $3.97 billion. The firm’s revenue for the quarter was up 48.1% on a year-over-year basis. Analysts anticipate that Allergan PLC will post $14.14 EPS for the current year.
In other Allergan PLC news, Director Nesli Basgoz sold 459 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $225.10, for a total value of $103,320.90. Following the completion of the sale, the director now directly owns 5,242 shares of the company’s stock, valued at approximately $1,179,974.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maria Teresa Hilado acquired 661 shares of Allergan PLC stock in a transaction on Thursday, June 2nd. The stock was purchased at an average cost 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 in the company, valued at approximately $2,888,452.49. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in AGN. Moors & Cabot Inc. increased its position in Allergan PLC by 149.3% in the fourth quarter. Moors & Cabot Inc. now owns 3,498 shares of the company’s stock worth $1,095,000 after buying an additional 2,095 shares in the last quarter. LS Investment Advisors LLC increased its position in Allergan PLC by 45.7% in the fourth quarter. LS Investment Advisors LLC now owns 3,513 shares of the company’s stock worth $1,098,000 after buying an additional 1,102 shares in the last quarter. Ironsides Asset Advisors LLC bought a new position in Allergan PLC during the fourth quarter worth $1,112,000. Northeast Financial Consultants Inc increased its position in Allergan PLC by 12.6% in the fourth quarter. Northeast Financial Consultants Inc now owns 3,805 shares of the company’s stock worth $1,190,000 after buying an additional 425 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Allergan PLC by 18.5% in the fourth quarter. Private Advisor Group LLC now owns 4,333 shares of the company’s stock worth $1,354,000 after buying an additional 676 shares in the last quarter.
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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