Allergan plc (AGN) Short Interest Update

Allergan plc (NYSE:AGN) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 6,391,424 shares, a decrease of 39.1% from the February 28th total of 10,501,103 shares. Based on an average daily volume of 4,617,063 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.9% of the company’s shares are short sold.

Several equities research analysts have issued reports on AGN shares. Leerink Swann restated an “outperform” rating on shares of Allergan in a report on Monday, March 26th. Vetr downgraded Allergan from a “strong-buy” rating to a “buy” rating and set a $183.43 price target for the company. in a report on Thursday, March 15th. Royal Bank of Canada restated a “buy” rating and issued a $213.00 price target on shares of Allergan in a report on Wednesday, March 14th. Cantor Fitzgerald set a $191.00 price target on Allergan and gave the stock a “hold” rating in a report on Saturday, December 2nd. Finally, JPMorgan Chase set a $265.00 price target on Allergan and gave the stock a “buy” rating in a report on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $224.02.

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NYSE:AGN opened at $168.29 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The stock has a market cap of $58,621.96, a P/E ratio of 10.29, a PEG ratio of 1.20 and a beta of 1.29. Allergan has a 52-week low of $142.81 and a 52-week high of $256.80.

Allergan (NYSE:AGN) last posted its quarterly earnings data 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 the consensus estimate of $4.28 billion. Allergan had a positive return on equity of 8.43% and a negative net margin of 26.32%. Allergan’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $3.90 earnings per share. research analysts predict that Allergan will post 15.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th were issued a dividend of $0.72 per share. The ex-dividend date was Tuesday, February 27th. This is an increase from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.71%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.

In related news, insider Maria Teresa Hilado acquired 895 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average price of $167.39 per share, for a total transaction of $149,814.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Meury sold 58,879 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total value of $9,457,144.98. The disclosure for this sale can be found here. Insiders purchased 8,095 shares of company stock valued at $1,258,081 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of AGN. Prosight Management LP acquired a new position in Allergan during the fourth quarter valued at approximately $16,031,000. Tower Research Capital LLC TRC boosted its position in Allergan by 479.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the company’s stock valued at $289,000 after purchasing an additional 1,463 shares during the last quarter. Vantage Financial Partners Ltd. Inc. boosted its position in Allergan by 23.8% during the fourth quarter. Vantage Financial Partners Ltd. Inc. now owns 6,250 shares of the company’s stock valued at $1,018,000 after purchasing an additional 1,200 shares during the last quarter. Canyon Capital Advisors LLC boosted its position in Allergan by 248.4% during the fourth quarter. Canyon Capital Advisors LLC now owns 501,494 shares of the company’s stock valued at $82,034,000 after purchasing an additional 357,559 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in Allergan by 35.9% during the fourth quarter. Coronation Fund Managers Ltd. now owns 203,238 shares of the company’s stock valued at $33,246,000 after purchasing an additional 53,653 shares during the last quarter. Institutional investors and hedge funds own 77.97% of the company’s stock.

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About Allergan

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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