Northpointe Capital LLC purchased a new stake in Allergan plc (NYSE:AGN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,586 shares of the company’s stock, valued at approximately $5,649,000. Allergan makes up approximately 1.8% of Northpointe Capital LLC’s investment portfolio, making the stock its 11th biggest holding.
Other institutional investors and hedge funds have also made changes to their positions in the company. JNBA Financial Advisors acquired a new stake in shares of Allergan in the fourth quarter valued at approximately $30,000. Washington Trust Bank boosted its holdings in shares of Allergan by 166.7% in the first quarter. Washington Trust Bank now owns 240 shares of the company’s stock valued at $35,000 after acquiring an additional 150 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Allergan in the fourth quarter valued at approximately $49,000. Ruggie Capital Group acquired a new stake in shares of Allergan in the fourth quarter valued at approximately $53,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of Allergan in the fourth quarter valued at approximately $55,000. 80.65% of the stock is owned by hedge funds and other institutional investors.
AGN has been the subject of several research analyst reports. Leerink Swann set a $217.00 price objective on Allergan and gave the company a “buy” rating in a report on Thursday, March 7th. Credit Suisse Group downgraded Allergan from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $161.00 in a report on Thursday, January 31st. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, TheStreet downgraded Allergan from a “c” rating to a “d+” rating in a report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $188.14.
NYSE:AGN traded down $4.50 during trading hours on Wednesday, hitting $140.91. The company’s stock had a trading volume of 502,558 shares, compared to its average volume of 1,939,735. The stock has a market capitalization of $48.36 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.15 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.13. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00.
Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.15 by $0.14. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4 billion. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. Allergan’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.86 earnings per share. On average, analysts predict that Allergan plc will post 16.37 EPS for the current year.
Allergan declared that its board has initiated a stock buyback program on Tuesday, January 29th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Allergan news, Chairman Brent L. Saunders acquired 1,760 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company’s stock.
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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