Two Sigma Advisers LP Buys Shares of 5,300 Allergan plc (AGN)

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.

In related news, Chairman Brent L. Saunders bought 1,760 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average cost of $143.67 per share, with a total value of $252,859.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.

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.

COPYRIGHT VIOLATION NOTICE: This report was first published by WKRB News and is the property of of WKRB News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.wkrb13.com/2019/04/18/two-sigma-advisers-lp-buys-shares-of-5300-allergan-plc-agn.html.

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.

See Also: What are popular green investing opportunities?

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.