Redmile Group LLC Buys Shares of 1,200 Allergan PLC. (AGN)
Redmile Group LLC bought a new position in Allergan PLC. (NYSE:AGN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,200 shares of the company’s stock, valued at approximately $292,000.
Several other hedge funds have also recently modified their holdings of the business. Hudock Capital Group LLC lifted its holdings in shares of Allergan PLC. by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after buying an additional 2 shares during the period. GWM Advisors LLC lifted its holdings in shares of Allergan PLC. by 0.4% in the 1st quarter. GWM Advisors LLC now owns 1,260 shares of the company’s stock worth $300,000 after buying an additional 5 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in shares of Allergan PLC. by 0.7% in the 2nd quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock worth $220,000 after buying an additional 6 shares during the period. Pacific Center for Financial Services lifted its holdings in shares of Allergan PLC. by 1.3% in the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after buying an additional 7 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Allergan PLC. by 0.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock worth $405,000 after buying an additional 9 shares during the period. Institutional investors and hedge funds own 82.04% of the company’s stock.
Several equities research analysts have weighed in on AGN shares. Morgan Stanley cut Allergan PLC. from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $284.00 to $228.00 in a report on Wednesday, September 20th. Cowen and Company reiterated an “outperform” rating and issued a $400.00 target price on shares of Allergan PLC. in a report on Tuesday, August 29th. Zacks Investment Research upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a report on Tuesday, July 11th. Wells Fargo & Company reiterated an “outperform” rating on shares of Allergan PLC. in a report on Monday, September 11th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $262.00 target price on shares of Allergan PLC. in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $271.44.
Shares of Allergan PLC. (AGN) opened at 205.52 on Friday. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The firm has a 50-day moving average price of $215.75 and a 200-day moving average price of $231.99. The stock has a market capitalization of $68.71 billion, a PE ratio of 6.26 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.95 by $0.07. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.35 EPS. On average, equities research analysts forecast that Allergan PLC. will post $16.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, August 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
Allergan PLC. declared that its Board of Directors has initiated a stock buyback plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Allergan PLC. 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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