Traders Buy Allergan PLC. (AGN) on Weakness After Analyst Downgrade
Traders bought shares of Allergan PLC. (NYSE:AGN) on weakness during trading on Friday after Morgan Stanley lowered their price target on the stock from $228.00 to $200.00. $145.41 million flowed into the stock on the tick-up and $127.23 million flowed out of the stock on the tick-down, for a money net flow of $18.18 million into the stock. Of all equities tracked, Allergan PLC. had the 26th highest net in-flow for the day. Allergan PLC. traded down ($0.46) for the day and closed at $174.92
Several other brokerages have also recently issued reports on AGN. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 target price on shares of Allergan PLC. in a research report on Wednesday, September 6th. Credit Suisse Group set a $243.00 target price on Allergan PLC. and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Citigroup Inc. dropped their target price on Allergan PLC. from $280.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. Cantor Fitzgerald set a $231.00 target price on Allergan PLC. and gave the company a “hold” rating in a research report on Wednesday. Finally, BidaskClub cut Allergan PLC. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Allergan PLC. currently has an average rating of “Hold” and an average price target of $246.73.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pathstone Family Office LLC grew its position in Allergan PLC. by 3,327.3% during the 2nd quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock worth $2,035,000 after purchasing an additional 366 shares during the period. Howard Hughes Medical Institute acquired a new stake in Allergan PLC. during the 2nd quarter worth about $103,000. Jacobi Capital Management LLC grew its position in Allergan PLC. by 4.9% during the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after purchasing an additional 22 shares during the period. JNBA Financial Advisors grew its position in Allergan PLC. by 2.5% during the 1st quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock worth $116,000 after purchasing an additional 12 shares during the period. Finally, Massey Quick & Co. LLC grew its position in Allergan PLC. by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares during the period. 82.02% of the stock is currently owned by institutional investors.
The stock has a market cap of $58,175.42, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. The company has a quick ratio of 1.10, a current ratio of 2.13 and a debt-to-equity ratio of 0.43.
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.04 billion. Allergan PLC. had a positive return on equity of 7.86% and a negative net margin of 47.27%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $3.32 EPS. equities research analysts forecast that Allergan PLC. will post 16.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is currently -12.44%.
Allergan PLC. announced that its Board of Directors has authorized a stock repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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.
Receive News & Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related companies with Analyst Ratings Network's FREE daily email newsletter.