Allergan PLC. (AGN) Position Raised by GRATRY & Co LLC
GRATRY & Co LLC increased its holdings in shares of Allergan PLC. (NYSE:AGN) by 61.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,713 shares of the company’s stock after acquiring an additional 3,692 shares during the period. Allergan PLC. comprises 2.9% of GRATRY & Co LLC’s portfolio, making the stock its 9th biggest position. GRATRY & Co LLC’s holdings in Allergan PLC. were worth $2,361,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Allergan PLC. by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after acquiring an additional 482,220 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Allergan PLC. by 8.8% during the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after acquiring an additional 364,722 shares during the last quarter. Veritas Asset Management LLP bought a new stake in shares of Allergan PLC. during the 1st quarter worth approximately $761,339,000. Edgewood Management LLC lifted its stake in shares of Allergan PLC. by 7.0% during the 1st quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock worth $646,090,000 after acquiring an additional 178,055 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Allergan PLC. by 3.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock worth $481,045,000 after acquiring an additional 73,081 shares during the last quarter. 81.94% of the stock is owned by hedge funds and other institutional investors.
Allergan PLC. (AGN) opened at 182.88 on Thursday. Allergan PLC. has a 52 week low of $182.88 and a 52 week high of $256.80. The company’s 50-day moving average price is $213.47 and its 200 day moving average price is $231.01. The stock has a market capitalization of $61.14 billion, a P/E ratio of 5.57 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last posted its earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the firm earned $3.35 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Allergan PLC. will post $16.20 EPS for the current fiscal year.
Allergan PLC. announced that its board has approved a share buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts recently issued reports on AGN shares. Morgan Stanley lowered Allergan PLC. from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $284.00 to $228.00 in a research note on Wednesday, September 20th. Cowen and Company reissued an “outperform” rating and set a $400.00 price target on shares of Allergan PLC. in a research note on Tuesday, August 29th. Zacks Investment Research raised Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Tuesday, July 11th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Allergan PLC. in a research report on Monday, September 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $262.00 target price on shares of Allergan PLC. in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Allergan PLC. currently has an average rating of “Hold” and an average target price of $263.34.
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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