Traders Buy Shares of Allergan PLC (AGN) on Weakness
Traders purchased shares of Allergan PLC (NYSE:AGN) on weakness during trading on Wednesday. $243.02 million flowed into the stock on the tick-up and $184.28 million flowed out of the stock on the tick-down, for a money net flow of $58.74 million into the stock. Of all companies tracked, Allergan PLC had the 3rd highest net in-flow for the day. Allergan PLC traded down ($0.26) for the day and closed at $238.41
A number of research analysts recently weighed in on the company. Citigroup Inc. reissued a “buy” rating on shares of Allergan PLC in a report on Sunday, May 29th. Piper Jaffray Cos. reissued a “hold” rating and set a $236.00 target price on shares of Allergan PLC in a report on Saturday, June 18th. Wells Fargo & Co. reissued a “buy” rating on shares of Allergan PLC in a report on Tuesday, May 31st. Mizuho reissued a “hold” rating and set a $232.00 target price on shares of Allergan PLC in a report on Monday, July 11th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $300.00 target price (down from $307.00) on shares of Allergan PLC in a report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Allergan PLC presently has a consensus rating of “Buy” and a consensus price target of $308.54.
The firm’s 50 day moving average is $245.19 and its 200 day moving average is $243.01. The company has a market capitalization of $94.40 billion, a P/E ratio of 22.70 and a beta of 0.73.
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Allergan PLC (NYSE:AGN) last announced its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.34 by $0.01. The company earned $3.68 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.41 earnings per share. Equities analysts expect that Allergan PLC will post $14.01 EPS for the current year.
A number of institutional investors have recently bought and sold shares of AGN. Veritas Asset Management LLP acquired a new position in Allergan PLC during the second quarter valued at approximately $492,177,000. Emerald Acquisition Ltd. acquired a new position in Allergan PLC during the second quarter valued at approximately $231,671,000. Appaloosa LP boosted its position in Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock valued at $291,360,000 after buying an additional 981,700 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in Allergan PLC by 133.2% in the second quarter. Thornburg Investment Management Inc. now owns 1,717,844 shares of the company’s stock valued at $396,977,000 after buying an additional 981,355 shares during the last quarter. Finally, Eaton Vance Management boosted its position in Allergan PLC by 112.8% in the second quarter. Eaton Vance Management now owns 1,713,711 shares of the company’s stock valued at $396,021,000 after buying an additional 908,569 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
About Allergan PLC
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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