Traders Buy Shares of Allergan PLC (AGN) on Weakness
Investors bought shares of Allergan PLC (NYSE:AGN) on weakness during trading on Monday. $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 stocks 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
Several equities research analysts have recently commented on AGN shares. Cowen and Company reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Tuesday, May 24th. Goldman Sachs Group Inc. cut shares of Allergan PLC to a “buy” rating in a research report on Saturday, May 14th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Monday, April 18th. Citigroup Inc. reaffirmed a “buy” rating and issued a $285.00 target price on shares of Allergan PLC in a research report on Wednesday, May 11th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Tuesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Allergan PLC has a consensus rating of “Buy” and an average price target of $305.59.
The stock has a market cap of $100.42 billion and a price-to-earnings ratio of 24.15. The firm’s 50-day moving average is $244.81 and its 200 day moving average is $250.28.
Allergan PLC (NYSE:AGN) last released its quarterly earnings results on Monday, August 8th. The company reported $3.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.34 by $0.01. During the same period in the previous year, the company posted $4.41 earnings per share. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $4.10 billion. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Allergan PLC will post $13.99 EPS for the current fiscal year.
In other news, CFO Maria Teresa Hilado purchased 661 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 11,957 shares in the company, valued at approximately $2,888,452.49. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several institutional investors recently made changes to their positions in AGN. Principal Financial Group Inc. raised its position in shares of Allergan PLC by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 533,175 shares of the company’s stock valued at $166,617,000 after buying an additional 6,382 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in shares of Allergan PLC by 12.7% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 42,141 shares of the company’s stock valued at $13,169,000 after buying an additional 4,742 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Allergan PLC by 5.9% in the fourth quarter. Schroder Investment Management Group now owns 102,742 shares of the company’s stock valued at $32,107,000 after buying an additional 5,700 shares during the last quarter. Argentiere Capital AG bought a new position in shares of Allergan PLC during the fourth quarter valued at approximately $13,125,000. Finally, Palladium Partners LLC raised its position in shares of Allergan PLC by 2.5% in the fourth quarter. Palladium Partners LLC now owns 31,360 shares of the company’s stock valued at $9,800,000 after buying an additional 754 shares during 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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