Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Allergan plc (NYSE:AGN) by 73.2% in the third quarter, HoldingsChannel.com reports. The firm owned 6,825 shares of the company’s stock after selling 18,675 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Allergan were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp grew its holdings in Allergan by 65.4% in the 2nd quarter. Dupont Capital Management Corp now owns 3,759 shares of the company’s stock worth $627,000 after acquiring an additional 1,487 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Allergan by 13.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,229 shares of the company’s stock worth $5,874,000 after acquiring an additional 4,275 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Allergan by 3,193.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after acquiring an additional 958 shares during the last quarter. First Trust Advisors LP grew its holdings in Allergan by 1,113.1% in the 2nd quarter. First Trust Advisors LP now owns 78,122 shares of the company’s stock worth $13,024,000 after acquiring an additional 71,682 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in Allergan in the 2nd quarter worth $884,000. Institutional investors and hedge funds own 78.24% of the company’s stock.
In related news, CFO Matthew M. Walsh bought 1,000 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $157.00 per share, with a total value of $157,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.
A number of equities research analysts have issued reports on AGN shares. Guggenheim started coverage on shares of Allergan in a report on Monday, October 8th. They issued a “buy” rating on the stock. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Raymond James cut their price target on shares of Allergan from $232.00 to $198.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Saturday, September 15th. Finally, Leerink Swann started coverage on shares of Allergan in a report on Monday, November 12th. They issued an “outperform” rating and a $220.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. Allergan presently has an average rating of “Buy” and a consensus price target of $211.52.
Shares of AGN opened at $152.42 on Friday. The stock has a market cap of $52.45 billion, a PE ratio of 9.01, a P/E/G ratio of 1.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.78 and a current ratio of 0.92. Allergan plc has a 1-year low of $142.81 and a 1-year high of $197.00.
Allergan (NYSE:AGN) last announced its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.21. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.15 EPS. Research analysts expect that Allergan plc will post 16.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, November 9th. Allergan’s payout ratio is 17.61%.
Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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