Investors Sell Allergan (AGN) on Strength (AGN)

Traders sold shares of Allergan PLC. (NYSE:AGN) on strength during trading on Monday. $115.38 million flowed into the stock on the tick-up and $153.50 million flowed out of the stock on the tick-down, for a money net flow of $38.12 million out of the stock. Of all equities tracked, Allergan had the 0th highest net out-flow for the day. Allergan traded up $4.96 for the day and closed at $172.76

Several brokerages recently issued reports on AGN. Cantor Fitzgerald set a $191.00 target price on shares of Allergan and gave the company a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of Allergan from a “c-” rating to a “d+” rating in a research note on Monday, December 4th. Morgan Stanley set a $200.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Wednesday, December 6th. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a research note on Wednesday, December 6th. Finally, Vetr downgraded shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price for the company. in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $235.25.

The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market cap of $57,160.00, a PE ratio of 11.20, a PEG ratio of 1.16 and a beta of 1.11.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The firm 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 business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $3.32 earnings per share. analysts anticipate that Allergan PLC. will post 16.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.64%. Allergan’s dividend payout ratio (DPR) is presently -12.39%.

Allergan declared that its Board of Directors has approved a stock buyback program on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In other Allergan news, Director Christopher J. Coughlin bought 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $163.30 per share, with a total value of $1,633,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Meury sold 11,807 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. Insiders have bought 17,630 shares of company stock worth $2,890,057 over the last ninety days. Insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Honeywell International Inc. increased its stake in Allergan by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after acquiring an additional 20,100 shares during the last quarter. Peloton Wealth Strategists increased its stake in Allergan by 37.1% in the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after acquiring an additional 2,835 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in Allergan by 39.0% in the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after acquiring an additional 4,244 shares during the last quarter. Fairbanks Capital Management Inc. increased its stake in Allergan by 1.3% in the second quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock valued at $1,332,000 after acquiring an additional 70 shares during the last quarter. Finally, Colony Group LLC increased its stake in Allergan by 9.9% in the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after acquiring an additional 3,577 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors.

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Allergan Company Profile

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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