Insider Selling: Actavis Director Unloads 6,200 Shares of Stock (ACT)
Actavis (NYSE:ACT) Director Albert Hummel sold 6,200 shares of the company’s stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $137.81, for a total value of $854,422.00. Following the completion of the sale, the director now directly owns 82,776 shares in the company. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on ACT. Analysts at Argus reiterated a “buy” rating on shares of Actavis (NYSE:ACT) in a research note to investors on Monday. They now have a $150.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Actavis (NYSE:ACT) from $140.00 to $175.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Actavis (NYSE:ACT) from $150.00 to $160.00 in a research note to investors on Wednesday, August 14th. They now have an “overweight” rating on the stock.
Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $143.00.
Shares of Actavis (NYSE:ACT) traded up 1.02% during mid-day trading on Wednesday, hitting $139.10. 1,268,643 shares of the company’s stock traded hands. Actavis has a 1-year low of $81.73 and a 1-year high of $140.97. The stock has a 50-day moving average of $135.5 and a 200-day moving average of $117.6. The company’s market cap is $18.521 billion.
Actavis (NYSE:ACT) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.00 by $0.01. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Actavis’s revenue was up 46.8% compared to the same quarter last year. On average, analysts predict that Actavis will post $8.33 earnings per share for the current fiscal year.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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