Investors Buy Allergan PLC (AGN) on Weakness
Investors bought shares of Allergan PLC (NYSE:AGN) on weakness during trading on Thursday. $417.52 million flowed into the stock on the tick-up and $363.46 million flowed out of the stock on the tick-down, for a money net flow of $54.06 million into the stock. Of all companies tracked, Allergan PLC had the 2nd highest net in-flow for the day. Allergan PLC traded down ($6.96) for the day and closed at $236.31
Several equities analysts recently issued reports on the stock. Citigroup Inc. restated a “buy” rating on shares of Allergan PLC in a report on Sunday, May 29th. Goldman Sachs Group Inc. lowered shares of Allergan PLC to a “buy” rating in a report on Saturday, May 14th. Piper Jaffray Cos. restated a “hold” rating and issued a $236.00 target price on shares of Allergan PLC in a report on Saturday, June 18th. Mizuho dropped their target price on shares of Allergan PLC from $250.00 to $232.00 and set a “neutral” rating on the stock in a report on Friday, May 13th. Finally, Vetr lowered shares of 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, August 8th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Allergan PLC presently has a consensus rating of “Buy” and a consensus target price of $309.13.
The company’s 50 day moving average price is $248.71 and its 200 day moving average price is $249.05. The firm has a market cap of $93.57 billion and a P/E ratio of 22.50.
Allergan PLC (NYSE:AGN) last released its earnings results on Monday, August 8th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.34 by $0.01. During the same period last year, the firm posted $4.41 EPS. The company earned $3.68 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Allergan PLC will post $14.00 earnings per share for the current fiscal year.
In other Allergan PLC news, CFO Maria Teresa Hilado purchased 661 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were bought at an average price of $241.57 per share, with a total value of $159,677.77. Following the completion of the purchase, the chief financial officer now directly owns 11,957 shares in the company, valued at $2,888,452.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of large investors have added to or reduced their stakes in the stock. Northeast Financial Consultants Inc increased its stake in 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. Greenwood Capital Associates LLC acquired a new stake in Allergan PLC during the fourth quarter worth about $2,041,000. Rail Splitter Capital Management LLC increased its stake in Allergan PLC by 39.4% in the fourth quarter. Rail Splitter Capital Management LLC now owns 51,574 shares of the company’s stock worth $16,117,000 after buying an additional 14,565 shares during the last quarter. Redwood Investments LLC increased its stake in Allergan PLC by 7.8% in the fourth quarter. Redwood Investments LLC now owns 69,168 shares of the company’s stock worth $21,615,000 after buying an additional 5,026 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake 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 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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