Traders Sell Shares of Allergan (AGN) on Strength on Insider Selling

Investors sold shares of Allergan (NYSE:AGN) on strength during trading hours on Tuesday following insider selling activity. $59.10 million flowed into the stock on the tick-up and $86.27 million flowed out of the stock on the tick-down, for a money net flow of $27.17 million out of the stock. Of all equities tracked, Allergan had the 21st highest net out-flow for the day. Allergan traded up $0.77 for the day and closed at $154.98Specifically, insider Maria Teresa Hilado acquired 895 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were bought at an average price of $167.39 per share, for a total transaction of $149,814.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew M. Walsh acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $160.94 per share, for a total transaction of $321,880.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,095 shares of company stock worth $1,258,081. 0.37% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $180.00 price objective on shares of Allergan in a research note on Monday, May 7th. Deutsche Bank set a $210.00 price target on shares of Allergan and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Wells Fargo restated a “buy” rating on shares of Allergan in a research note on Thursday, May 17th. Bank of America dropped their price target on shares of Allergan from $213.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, May 1st. Finally, Mizuho restated a “hold” rating and issued a $185.00 price target on shares of Allergan in a research note on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $214.81.

The company has a market cap of $53.72 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.10.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Monday, April 30th. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.38. Allergan had a negative net margin of 11.94% and a positive return on equity of 8.53%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company posted $3.35 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts expect that Allergan will post 16.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, May 17th. Allergan’s dividend payout ratio (DPR) is 17.61%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Avestar Capital LLC acquired a new position in shares of Allergan during the fourth quarter valued at $113,000. Focused Wealth Management Inc boosted its holdings in shares of Allergan by 4,444.4% during the fourth quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock valued at $134,000 after acquiring an additional 800 shares during the period. Field & Main Bank acquired a new position in shares of Allergan during the fourth quarter valued at $155,000. Captrust Financial Advisors acquired a new position in shares of Allergan during the fourth quarter valued at $175,000. Finally, Bfsg LLC acquired a new stake in Allergan in the first quarter worth about $206,000. 79.57% of the stock is owned by institutional investors.

About Allergan

Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.

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