Investors Sell Shares of Allergan (AGN) on Strength Following Insider Selling

Traders sold shares of Allergan PLC. (NYSE:AGN) on strength during trading hours on Tuesday after an insider sold shares in the company. $313.94 million flowed into the stock on the tick-up and $334.19 million flowed out of the stock on the tick-down, for a money net flow of $20.25 million out of the stock. Of all companies tracked, Allergan had the 0th highest net out-flow for the day. Allergan traded up $1.37 for the day and closed at $164.28Specifically, insider William Meury sold 11,807 shares of Allergan stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Brent L. Saunders bought 4,600 shares of Allergan stock in a transaction that occurred on Wednesday, December 6th. The shares were acquired at an average price of $164.74 per share, for a total transaction of $757,804.00. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

AGN has been the topic of several recent research reports. Wells Fargo & Company restated an “outperform” rating and set a $280.00 target price (up previously from $270.00) on shares of Allergan in a report on Wednesday, August 9th. BidaskClub lowered shares of Allergan from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Deutsche Bank reiterated a “buy” rating and issued a $278.00 price objective (up previously from $273.00) on shares of Allergan in a report on Wednesday, August 9th. UBS reiterated an “outperform” rating and issued a $275.00 price objective on shares of Allergan in a report on Wednesday, August 9th. Finally, Argus reiterated a “buy” rating and issued a $280.00 price objective on shares of Allergan in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $241.56.

The company has a market cap of $54,640.00, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08.

Allergan (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 EPS. research analysts predict that Allergan PLC. will post 16.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Thursday, November 16th. Allergan’s payout ratio is currently -12.39%.

Allergan announced that its board has authorized a stock buyback program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hudock Capital Group LLC increased its position in shares of Allergan by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after purchasing an additional 2 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in shares of Allergan by 0.7% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock valued at $220,000 after buying an additional 6 shares during the last quarter. Pacific Center for Financial Services grew its position in shares of Allergan by 1.3% during the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock valued at $132,000 after buying an additional 7 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in shares of Allergan by 0.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock valued at $405,000 after buying an additional 9 shares during the last quarter. Finally, Trust Co grew its position in shares of Allergan by 0.8% during the 1st quarter. Trust Co now owns 1,224 shares of the company’s stock valued at $292,000 after buying an additional 10 shares during the last quarter. 81.34% of the stock is owned by institutional investors.

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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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