Sarissa Capital Management LP acquired a new position in Allergan plc (NYSE:AGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 257,300 shares of the company’s stock, valued at approximately $42,089,000. Allergan accounts for 10.8% of Sarissa Capital Management LP’s holdings, making the stock its 5th biggest position. Sarissa Capital Management LP owned approximately 0.08% of Allergan at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BB&T Investment Services Inc. lifted its holdings in Allergan by 1,308.2% in the 3rd quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock worth $139,000 after buying an additional 641 shares during the period. Avestar Capital LLC purchased a new stake in Allergan in the 4th quarter worth approximately $113,000. Focused Wealth Management Inc lifted its holdings in Allergan by 4,444.4% in the 4th quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock worth $134,000 after buying an additional 800 shares during the period. Acropolis Investment Management LLC purchased a new stake in Allergan in the 4th quarter worth approximately $153,000. Finally, Zions Bancorporation lifted its holdings in Allergan by 1,115.6% in the 3rd quarter. Zions Bancorporation now owns 936 shares of the company’s stock worth $192,000 after buying an additional 859 shares during the period. Institutional investors and hedge funds own 78.40% of the company’s stock.
Several research firms have weighed in on AGN. Wells Fargo & Co set a $245.00 price objective on Allergan and gave the stock a “buy” rating in a report on Friday, January 5th. Credit Suisse Group set a $214.00 price objective on Allergan and gave the stock a “buy” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Royal Bank of Canada set a $218.00 price objective on Allergan and gave the stock a “buy” rating in a report on Thursday, January 4th. Citigroup dropped their price objective on Allergan to $215.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Finally, Vetr cut Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price objective for the company. in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $225.03.
Allergan plc (NYSE AGN) opened at $157.28 on Monday. The stock has a market capitalization of $54,790.00, a price-to-earnings ratio of -13.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. Allergan plc has a one year low of $142.81 and a one year high of $256.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.16.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.12. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Allergan had a positive return on equity of 8.43% and a negative net margin of 26.32%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.90 earnings per share. equities research analysts forecast that Allergan plc will post 15.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.72 per share. This is a boost from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.83%. Allergan’s payout ratio is presently -24.02%.
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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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