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.

COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this report can be viewed at https://www.watchlistnews.com/traders-buy-allergan-plc-agn-on-weakness-after-analyst-downgrade/1679605.html.

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.