Traders Buy Allergan PLC (AGN) on Weakness
Traders purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading on Friday. $154.92 million flowed into the stock on the tick-up and $134.07 million flowed out of the stock on the tick-down, for a money net flow of $20.85 million into the stock. Of all equities tracked, Allergan PLC had the 20th highest net in-flow for the day. Allergan PLC traded down ($3.41) for the day and closed at $249.61
A number of equities analysts have issued reports on AGN shares. Cowen and Company reiterated a “buy” rating on shares of Allergan PLC in a report on Tuesday, May 24th. Goldman Sachs Group Inc. cut Allergan PLC to a “buy” rating in a report on Saturday, May 14th. Deutsche Bank AG reiterated a “buy” rating on shares of Allergan PLC in a report on Monday, April 18th. Citigroup Inc. reiterated a “buy” rating and set a $285.00 target price on shares of Allergan PLC in a report on Wednesday, May 11th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Allergan PLC in a report on Tuesday, May 31st. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Allergan PLC presently has a consensus rating of “Buy” and an average target price of $305.59.
The firm has a market capitalization of $98.75 billion and a P/E ratio of 23.77. The firm’s 50 day moving average price is $244.00 and its 200-day moving average price is $251.08.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.01. The firm earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $4.41 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Allergan PLC will post $13.99 EPS for the current year.
In other news, CFO Maria Teresa Hilado acquired 661 shares of Allergan PLC stock in a transaction on Thursday, June 2nd. The stock was acquired at an average cost of $241.57 per share, with a total value of $159,677.77. Following the transaction, the chief financial officer now owns 11,957 shares of the company’s stock, valued at approximately $2,888,452.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of large investors have recently modified their holdings of AGN. Northeast Financial Consultants Inc increased its stake in shares of 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 during the last quarter. Atlanta Capital Group bought a new position in Allergan PLC during the fourth quarter worth $1,724,000. Greenwood Capital Associates LLC bought a new position in Allergan PLC during the fourth quarter worth $2,041,000. Pyrrho Capital Management LP bought a new position in Allergan PLC during the fourth quarter worth $3,656,000. Finally, Veritable L.P. increased its position in Allergan PLC by 1.4% in the fourth quarter. Veritable L.P. now owns 14,651 shares of the company’s stock worth $4,578,000 after buying an additional 205 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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