Gabelli Weighs in on Allergan plc’s FY2021 Earnings (AGN)
Allergan plc (NYSE:AGN) – Equities research analysts at Gabelli increased their FY2021 earnings estimates for Allergan in a report released on Wednesday. Gabelli analyst K. Kedra now expects that the company will post earnings per share of $21.50 for the year, up from their previous forecast of $21.40.
Allergan (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.32 earnings per share.
Allergan (NYSE:AGN) traded down $1.07 during mid-day trading on Monday, hitting $176.05. 2,802,100 shares of the stock were exchanged, compared to its average volume of 2,527,233. The stock has a market capitalization of $58,550.00, a PE ratio of -7.79, a P/E/G ratio of 1.30 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80.
Allergan declared that its Board of Directors has approved a stock repurchase program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Chris W. Bodine purchased 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average price of $164.77 per share, with a total value of $499,253.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Meury sold 11,807 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. In the last three months, insiders bought 17,630 shares of company stock valued at $2,890,057. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of AGN. Hudock Capital Group LLC lifted its holdings in shares of Allergan by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after acquiring an additional 2 shares during the last quarter. Pacific Center for Financial Services lifted its holdings in shares of Allergan by 1.3% in the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after acquiring an additional 7 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Allergan by 1.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,201 shares of the company’s stock worth $235,000 after acquiring an additional 16 shares during the last quarter. Buckingham Asset Management LLC lifted its holdings in shares of Allergan by 2.6% in the 2nd quarter. Buckingham Asset Management LLC now owns 964 shares of the company’s stock worth $234,000 after acquiring an additional 24 shares during the last quarter. Finally, Ropes Wealth Advisors LLC lifted its holdings in shares of Allergan by 5.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 605 shares of the company’s stock worth $147,000 after acquiring an additional 30 shares during the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.
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Allergan 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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