Traders Buy Shares of Allergan PLC (AGN) on Weakness
Traders purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading on Friday. $192.59 million flowed into the stock on the tick-up and $139.09 million flowed out of the stock on the tick-down, for a money net flow of $53.50 million into the stock. Of all stocks tracked, Allergan PLC had the 20th highest net in-flow for the day. Allergan PLC traded down ($2.61) for the day and closed at $252.95
Several brokerages have recently issued reports on AGN. Morgan Stanley reissued a “buy” rating on shares of Allergan PLC in a research report on Saturday, April 9th. Goldman Sachs Group Inc. downgraded Allergan PLC to a “buy” rating in a research note on Saturday, May 14th. Citigroup Inc. restated a “buy” rating on shares of Allergan PLC in a research note on Sunday, May 29th. Piper Jaffray Cos. restated a “hold” rating and issued a $236.00 price target on shares of Allergan PLC in a research note on Saturday, June 18th. Finally, Mizuho downgraded Allergan PLC from a “buy” rating to a “neutral” rating and cut their price target for the stock from $330.00 to $250.00 in a research note on Wednesday, April 6th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $308.74.
The company’s 50 day moving average price is $239.70 and its 200-day moving average price is $253.84. The firm has a market cap of $100.06 billion and a price-to-earnings ratio of 22.64.
Allergan PLC (NYSE:AGN) last released its quarterly earnings results 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 firm earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. The firm’s quarterly revenue was up 48.1% compared to the same quarter last year. Equities analysts predict that Allergan PLC will post $14.17 EPS for the current year.
In other news, CFO Maria Teresa Hilado purchased 661 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were acquired at an average cost of $241.57 per share, with a total value of $159,677.77. Following the completion of the acquisition, the chief financial officer now owns 11,957 shares of the company’s stock, valued at $2,888,452.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nesli Basgoz sold 459 shares of Allergan PLC 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 completion of the transaction, the director now directly owns 5,242 shares in the company, valued at $1,179,974.20. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. BOKF NA raised its stake in shares of Allergan PLC by 18.6% in the fourth quarter. BOKF NA now owns 18,902 shares of the company’s stock worth $5,907,000 after buying an additional 2,962 shares during the period. JW Asset Management LLC raised its stake in shares of Allergan PLC by 4.7% in the fourth quarter. JW Asset Management LLC now owns 44,189 shares of the company’s stock worth $13,809,000 after buying an additional 2,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Allergan PLC by 41.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,750 shares of the company’s stock worth $11,172,000 after buying an additional 10,459 shares during the period. SVA Plumb Wealth Management LLC raised its stake in shares of Allergan PLC by 50.3% in the fourth quarter. SVA Plumb Wealth Management LLC now owns 22,142 shares of the company’s stock worth $6,919,000 after buying an additional 7,407 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of 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 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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