Two Sigma Advisers LP bought a new stake in shares of Allergan plc (NYSE:AGN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,300 shares of the company’s stock, valued at approximately $708,000.
Other large investors have also made changes to their positions in the company. JNBA Financial Advisors acquired a new position in Allergan during the 4th quarter valued at about $30,000. IMS Capital Management acquired a new position in Allergan during the 3rd quarter valued at about $66,000. Bruderman Asset Management LLC acquired a new position in Allergan during the 4th quarter valued at about $49,000. Ruggie Capital Group acquired a new position in Allergan during the 4th quarter valued at about $53,000. Finally, Lindbrook Capital LLC acquired a new position in Allergan during the 4th quarter valued at about $55,000. 80.65% of the stock is currently owned by institutional investors.
AGN has been the topic of a number of research reports. Cantor Fitzgerald set a $180.00 price objective on Allergan and gave the company a “hold” rating in a report on Friday, January 4th. Jefferies Financial Group initiated coverage on Allergan in a report on Monday. They issued a “hold” rating and a $144.95 price objective on the stock. SunTrust Banks initiated coverage on Allergan in a report on Tuesday, March 19th. They issued a “buy” rating and a $178.00 price objective on the stock. Credit Suisse Group set a $155.00 price objective on Allergan and gave the company a “hold” rating in a report on Monday, March 25th. Finally, Mizuho cut their price objective on Allergan to $200.00 and set a “buy” rating on the stock in a report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and a consensus price target of $188.95.
Allergan stock opened at $140.03 on Thursday. The stock has a market cap of $48.36 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.15 and a beta of 1.34. Allergan plc has a 52 week low of $125.84 and a 52 week high of $197.00. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, topping the consensus estimate of $4.15 by $0.14. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4 billion. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. Allergan’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the company earned $4.86 earnings per share. Research analysts anticipate that Allergan plc will post 16.37 earnings per share for the current fiscal year.
Allergan announced that its board has approved a stock repurchase program on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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