Traders Buy Shares of Allergan PLC (AGN) on Weakness
Investors bought shares of Allergan PLC (NYSE:AGN) on weakness during trading hours on Tuesday. $403.56 million flowed into the stock on the tick-up and $322.36 million flowed out of the stock on the tick-down, for a money net flow of $81.20 million into the stock. Of all stocks tracked, Allergan PLC had the 3rd highest net in-flow for the day. Allergan PLC traded down ($6.62) for the day and closed at $238.67
A number of brokerages recently weighed in on AGN. Citigroup Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research note on Sunday, May 29th. Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $236.00 target price on shares of Allergan PLC in a research note on Saturday, June 18th. Vetr downgraded shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price target on the stock. in a research note on Monday, August 8th. RBC Capital Markets reissued an “outperform” rating and set a $300.00 price target (down from $307.00) on shares of Allergan PLC in a research note on Wednesday, August 10th. Finally, Leerink Swann set a $294.00 price target on shares of Allergan PLC and gave the stock a “buy” rating in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $308.54.
The company has a market capitalization of $94.50 billion, a PE ratio of 22.72 and a beta of 0.73. The stock has a 50-day moving average of $245.54 and a 200-day moving average of $243.04.
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Allergan PLC (NYSE:AGN) last released its earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.01. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $4.41 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Allergan PLC will post $14.01 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in AGN. Barnett & Company Inc. acquired a new stake in Allergan PLC during the first quarter worth $111,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Allergan PLC during the second quarter worth $125,000. Trust Co. of Vermont raised its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock worth $126,000 after buying an additional 89 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock worth $133,000 after buying an additional 58 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock worth $137,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
Allergan PLC Company 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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