Allergan PLC. (NYSE:AGN) Director Christopher J. Coughlin bought 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Allergan PLC. (NYSE:AGN) traded up $1.20 during trading on Wednesday, reaching $165.48. 889,151 shares of the company’s stock traded hands, compared to its average volume of 2,931,912. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The stock has a market capitalization of $55,508.12, a PE ratio of 10.82, a PEG ratio of 1.12 and a beta of 1.11. Allergan PLC. has a twelve month low of $160.07 and a twelve month high of $256.80.
Allergan (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.32 earnings per share. research analysts forecast that Allergan PLC. will post 16.28 earnings per share for the current fiscal year.
Allergan declared that its board has authorized a stock repurchase plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.69%. Allergan’s payout ratio is -12.44%.
A number of brokerages have recently weighed in on AGN. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Sunday, October 22nd. BidaskClub lowered shares of Allergan from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reaffirmed a “buy” rating and set a $267.00 target price on shares of Allergan in a research note on Monday, September 25th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $258.00 target price on shares of Allergan in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Allergan presently has a consensus rating of “Buy” and a consensus price target of $244.47.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AGN. Howard Hughes Medical Institute bought a new stake in Allergan during the second quarter valued at approximately $103,000. Cable Hill Partners LLC grew its position in Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after buying an additional 370 shares during the period. Rockefeller Financial Services Inc. grew its position in Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after buying an additional 400 shares during the period. Jacobi Capital Management LLC grew its position in Allergan by 4.9% during the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after buying an additional 22 shares during the period. Finally, Massey Quick & Co. LLC grew its position in Allergan by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after buying an additional 385 shares during the period. 81.34% of the stock is owned by hedge funds and other institutional investors.
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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