Investors Buy Shares of Allergan PLC (AGN) on Weakness
Investors purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading hours on Thursday. $324.28 million flowed into the stock on the tick-up and $231.47 million flowed out of the stock on the tick-down, for a money net flow of $92.81 million into the stock. Of all equities tracked, Allergan PLC had the 4th highest net in-flow for the day. Allergan PLC traded down ($4.68) for the day and closed at $255.56
Several brokerages have issued reports on AGN. Morgan Stanley reiterated a “buy” rating on shares of Allergan PLC in a research report on Saturday, April 9th. Goldman Sachs Group Inc. lowered shares of Allergan PLC to a “buy” rating in a research report on Saturday, May 14th. Citigroup Inc. reiterated a “buy” rating on shares of Allergan PLC in a research report on Sunday, May 29th. Piper Jaffray Cos. reiterated a “hold” rating and set a $236.00 target price on shares of Allergan PLC in a research report on Saturday, June 18th. Finally, Mizuho lowered shares of Allergan PLC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $330.00 to $250.00 in a research report on Wednesday, April 6th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $308.74.
The company’s 50 day moving average is $239.54 and its 200 day moving average is $254.18. The stock has a market cap of $101.09 billion and a P/E ratio of 22.87.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.97 billion. The business’s revenue was up 48.1% compared to the same quarter last year. On average, analysts predict that Allergan PLC will post $14.17 earnings per share for the current fiscal year.
In other Allergan PLC news, CFO Maria Teresa Hilado bought 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, for a total transaction of $159,677.77. Following the completion of the transaction, the chief financial officer now owns 11,957 shares in the company, valued at $2,888,452.49. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nesli Basgoz sold 459 shares of Allergan PLC stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $225.10, for a total value of $103,320.90. Following the sale, the director now owns 5,242 shares of the company’s stock, valued at $1,179,974.20. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in AGN. Dimensional Fund Advisors LP increased its stake in Allergan PLC by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,596,389 shares of the company’s stock valued at $498,895,000 after buying an additional 103,314 shares during the period. Edgewood Management LLC increased its stake in Allergan PLC by 10.9% in the fourth quarter. Edgewood Management LLC now owns 1,459,579 shares of the company’s stock valued at $456,118,000 after buying an additional 143,657 shares during the period. Eaton Vance Management increased its stake in Allergan PLC by 276.7% in the fourth quarter. Eaton Vance Management now owns 793,555 shares of the company’s stock valued at $247,986,000 after buying an additional 582,890 shares during the period. Principal Financial Group Inc. increased its stake in 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 period. Finally, Atlantic Trust Group LLC increased its stake in Allergan PLC by 2.3% in the fourth quarter. Atlantic Trust Group LLC now owns 466,883 shares of the company’s stock valued at $145,901,000 after buying an additional 10,553 shares during the period.
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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