580,594 Shares in Allergan PLC (AGN) Acquired by Johnston Asset Management LLC
Johnston Asset Management LLC bought a new stake in shares of Allergan PLC (NYSE:AGN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 580,594 shares of the company’s stock, valued at approximately $134,170,000. Allergan PLC accounts for 6.8% of Johnston Asset Management LLC’s portfolio, making the stock its 3rd largest position.
A number of other hedge funds have also added to or reduced their stakes in AGN. Barnett & Company Inc. acquired a new stake in Allergan PLC during the first quarter valued at $111,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Allergan PLC during the second quarter valued at $125,000. Trust Co. of Vermont raised its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock valued at $133,000 after buying an additional 58 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
Shares of Allergan PLC (NYSE:AGN) traded up 1.06% during trading on Monday, hitting $232.75. The stock had a trading volume of 3,154,753 shares. Allergan PLC has a 1-year low of $195.50 and a 1-year high of $322.68. The firm has a 50 day moving average of $242.33 and a 200 day moving average of $240.70. The company has a market capitalization of $92.16 billion, a price-to-earnings ratio of 22.16 and a beta of 0.81.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings data on Monday, August 8th. The company reported $3.35 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 analyst estimates of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $4.41 earnings per share. Analysts expect that Allergan PLC will post $14.00 EPS for the current fiscal year.
Several analysts have weighed in on the stock. Credit Suisse Group AG assumed coverage on shares of Allergan PLC in a research note on Monday, July 25th. They set an “outperform” rating and a $327.00 target price for the company. Zacks Investment Research lowered shares of Allergan PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Vetr lowered shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price target for the company. in a research report on Monday, August 8th. Leerink Swann set a $294.00 price target on shares of Allergan PLC and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $300.00 price target on shares of Allergan PLC in a research report on Tuesday, September 27th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $300.64.
Allergan PLC Company Profile
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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