Investors Sell Shares of Allergan PLC (AGN) on Strength (AGN)
Traders sold shares of Allergan PLC (NYSE:AGN) on strength during trading hours on Wednesday. $172.42 million flowed into the stock on the tick-up and $216.87 million flowed out of the stock on the tick-down, for a money net flow of $44.45 million out of the stock. Of all equities tracked, Allergan PLC had the 0th highest net out-flow for the day. Allergan PLC traded up $1.78 for the day and closed at $252.53
A number of brokerages recently commented on AGN. Vetr upgraded Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 price objective for the company in a research report on Monday. Credit Suisse Group AG set a $322.00 target price on Allergan PLC and gave the stock a “hold” rating in a research report on Wednesday. Leerink Swann boosted their target price on Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Zacks Investment Research lowered Allergan PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $335.00 target price on shares of Allergan PLC in a research report on Thursday, June 9th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Allergan PLC currently has a consensus rating of “Buy” and a consensus price target of $308.06.
The company’s 50-day moving average price is $240.54 and its 200 day moving average price is $252.64. The stock has a market cap of $99.89 billion and a PE ratio of 22.60.
Allergan PLC (NYSE:AGN) last posted its earnings results on Tuesday, May 10th. The company reported $3.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.03 by $0.01. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.97 billion. The business’s revenue was up 48.1% compared to the same quarter last year. On average, equities research analysts predict that Allergan PLC will post $14.17 earnings per share for the current year.
In other news, Director Nesli Basgoz sold 459 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $225.10, for a total value of $103,320.90. Following the transaction, the director now owns 5,242 shares in the company, valued at $1,179,974.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Maria Teresa Hilado bought 661 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was bought at an average price of $241.57 per share, for a total transaction of $159,677.77. Following the acquisition, the chief financial officer now directly owns 11,957 shares of the company’s stock, valued at $2,888,452.49. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the stock. Argentiere Capital AG bought a new position in Allergan PLC during the fourth quarter worth $13,125,000. MUFG Americas Holdings Corp raised its position in Allergan PLC by 35.6% in the fourth quarter. MUFG Americas Holdings Corp now owns 22,327 shares of the company’s stock worth $6,978,000 after buying an additional 5,867 shares in the last quarter. Schroder Investment Management Group raised its position in Allergan PLC by 5.9% in the fourth quarter. Schroder Investment Management Group now owns 102,742 shares of the company’s stock worth $32,107,000 after buying an additional 5,700 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Allergan PLC by 6.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 52,262 shares of the company’s stock worth $16,332,000 after buying an additional 3,121 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its position in Allergan PLC by 12.7% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 42,141 shares of the company’s stock worth $13,169,000 after buying an additional 4,742 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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