Allergan plc (AGN) Shares Bought by Columbus Hill Capital Management L.P.
Columbus Hill Capital Management L.P. grew its stake in Allergan plc (NYSE:AGN) by 13.2% during the fourth quarter, HoldingsChannel reports. The fund owned 139,005 shares of the company’s stock after purchasing an additional 16,200 shares during the quarter. Allergan makes up 1.5% of Columbus Hill Capital Management L.P.’s investment portfolio, making the stock its 27th biggest position. Columbus Hill Capital Management L.P.’s holdings in Allergan were worth $22,738,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of AGN. Edgewood Management LLC lifted its position in shares of Allergan by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after purchasing an additional 869,248 shares during the period. Baupost Group LLC MA lifted its position in shares of Allergan by 21.9% in the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after purchasing an additional 531,600 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Allergan by 4,852.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after purchasing an additional 492,930 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Allergan in the 3rd quarter worth approximately $92,182,000. Finally, Polaris Capital Management LLC lifted its position in shares of Allergan by 315.4% in the 4th quarter. Polaris Capital Management LLC now owns 500,200 shares of the company’s stock worth $37,195,000 after purchasing an additional 379,781 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Credit Suisse Group set a $215.00 price target on shares of Allergan and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lowered their price target on shares of Allergan from $200.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday. SunTrust Banks assumed coverage on shares of Allergan in a research report on Friday, February 23rd. They issued a “buy” rating and a $200.00 price target for the company. They noted that the move was a valuation call. Bank of America increased their target price on shares of Allergan from $208.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Leerink Swann increased their target price on shares of Allergan from $237.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $225.03.
Allergan plc (AGN) opened at $144.02 on Monday. The stock has a market cap of $50,167.74, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29. Allergan plc has a fifty-two week low of $143.10 and a fifty-two week high of $256.80. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.38.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, topping 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 negative net margin of 26.32% and a positive return on equity of 8.43%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $3.90 earnings per share. sell-side analysts expect that Allergan plc will post 15.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio (DPR) is currently -21.46%.
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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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