Traders Buy Shares of Allergan PLC (AGN) on Weakness
Investors bought shares of Allergan PLC (NYSE:AGN) on weakness during trading hours on Tuesday. $189.50 million flowed into the stock on the tick-up and $149.91 million flowed out of the stock on the tick-down, for a money net flow of $39.59 million into the stock. Of all stocks tracked, Allergan PLC had the 9th highest net in-flow for the day. Allergan PLC traded down ($0.86) for the day and closed at $253.19
Several research analysts recently commented on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research note on Sunday, May 29th. Goldman Sachs Group Inc. downgraded shares of Allergan PLC to a “buy” rating in a research note on Saturday, May 14th. Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $236.00 price target on shares of Allergan PLC in a research note on Saturday, June 18th. Mizuho reduced their price target on shares of Allergan PLC from $250.00 to $232.00 and set a “neutral” rating on the stock in a research note on Friday, May 13th. Finally, Vetr downgraded shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price target on the stock. in a research note on Monday, August 8th. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $305.59.
The firm’s 50-day moving average is $245.83 and its 200-day moving average is $250.06. The stock has a market capitalization of $100.25 billion and a PE ratio of 24.11.
Allergan PLC (NYSE:AGN) last posted its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share 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 earned $3.68 billion during the quarter, compared to analyst estimates of $4.10 billion. Allergan PLC’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Allergan PLC will post $13.99 earnings per share for the current year.
In other news, CFO Maria Teresa Hilado acquired 661 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available through this link.
Several large investors 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 valued at $1,190,000 after buying an additional 425 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in Allergan PLC during the fourth quarter valued at about $2,041,000. Pyrrho Capital Management LP acquired a new position in Allergan PLC during the fourth quarter valued at about $3,656,000. Catalyst Capital Advisors LLC boosted its position in Allergan PLC by 12.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 16,640 shares of the company’s stock valued at $5,200,000 after buying an additional 1,880 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position in Allergan PLC by 359.2% in the fourth quarter. King Luther Capital Management Corp now owns 22,125 shares of the company’s stock valued at $6,914,000 after buying an additional 17,307 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.