Investors Buy Shares of Allergan PLC (AGN) on Weakness
Investors purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading hours on Monday. $493.09 million flowed into the stock on the tick-up and $464.13 million flowed out of the stock on the tick-down, for a money net flow of $28.96 million into the stock. Of all equities tracked, Allergan PLC had the 17th highest net in-flow for the day. Allergan PLC traded down ($5.54) for the day and closed at $248.31
Several analysts have issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of Allergan PLC in a report on Friday, May 13th. Credit Suisse Group AG began coverage on Allergan PLC in a report on Monday, July 25th. They issued an “outperform” rating and a $327.00 target price on the stock. Zacks Investment Research downgraded Allergan PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 target price on the stock. in a report on Monday. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Allergan PLC in a report on Monday, April 18th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Allergan PLC currently has an average rating of “Buy” and a consensus target price of $309.05.
The stock has a market capitalization of $98.22 billion and a PE ratio of 22.22. The company has a 50-day moving average of $241.80 and a 200 day moving average of $251.74.
Allergan PLC (NYSE:AGN) last posted its earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.35. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm posted $4.41 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Allergan PLC will post $14.21 EPS for the current year.
In other Allergan PLC news, CFO Maria Teresa Hilado bought 661 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief financial officer now owns 11,957 shares of the company’s stock, valued at $2,888,452.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nesli Basgoz sold 459 shares of the business’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 directly owns 5,242 shares in the company, valued at $1,179,974.20. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of AGN. Eaton Vance Management raised its position in Allergan PLC by 276.7% in the fourth quarter. Eaton Vance Management now owns 793,555 shares of the company’s stock worth $247,986,000 after buying an additional 582,890 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Allergan PLC by 135.7% in the fourth quarter. State of Tennessee Treasury Department now owns 466,141 shares of the company’s stock valued at $145,669,000 after buying an additional 268,357 shares during the period. Cibc World Markets Corp purchased a new stake in Allergan PLC during the fourth quarter valued at about $48,916,000. Edgewood Management LLC increased its stake in Allergan PLC by 10.9% in the fourth quarter. Edgewood Management LLC now owns 1,459,579 shares of the company’s stock valued at $456,118,000 after buying an additional 143,657 shares during the period. Finally, Employees Retirement System of Texas increased its stake in Allergan PLC by 265.5% in the fourth quarter. Employees Retirement System of Texas now owns 148,258 shares of the company’s stock valued at $46,331,000 after buying an additional 107,700 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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