Eagle Asset Management Inc. Grows Holdings in Allergan plc (AGN)
Eagle Asset Management Inc. boosted its holdings in Allergan plc (NYSE:AGN) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,999 shares of the company’s stock after purchasing an additional 10,596 shares during the quarter. Eagle Asset Management Inc.’s holdings in Allergan were worth $21,714,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Edgewood Management LLC boosted its holdings in Allergan by 2.6% in the second quarter. Edgewood Management LLC now owns 5,728,391 shares of the company’s stock worth $955,037,000 after purchasing an additional 144,282 shares during the period. Janus Henderson Group PLC boosted its holdings in Allergan by 16.3% in the second quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock worth $796,712,000 after purchasing an additional 668,343 shares during the period. Northern Trust Corp boosted its holdings in Allergan by 1.7% in the second quarter. Northern Trust Corp now owns 4,163,556 shares of the company’s stock worth $694,149,000 after purchasing an additional 69,651 shares during the period. Bank of New York Mellon Corp boosted its holdings in Allergan by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock worth $591,116,000 after purchasing an additional 99,490 shares during the period. Finally, Parnassus Investments CA boosted its holdings in Allergan by 3.1% in the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock worth $307,566,000 after purchasing an additional 55,029 shares during the period. 78.48% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Saturday, September 15th. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Mizuho reaffirmed a “hold” rating and issued a $194.00 price objective on shares of Allergan in a report on Monday, July 30th. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the stock a “hold” rating in a report on Monday, August 6th. Finally, Morgan Stanley set a $202.00 price target on shares of Allergan and gave the company an “overweight” rating in a report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $209.18.
Shares of AGN opened at $153.40 on Wednesday. Allergan plc has a 1 year low of $142.81 and a 1 year high of $197.00. The firm has a market cap of $52.63 billion, a PE ratio of 9.04, a PEG ratio of 1.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78.
Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.21. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.15 earnings per share. On average, analysts anticipate that Allergan plc will post 16.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, November 9th. Allergan’s payout ratio is currently 17.61%.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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