Northpointe Capital LLC acquired a new stake in Allergan plc (NYSE:AGN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 largest holding.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Allergan by 2.9% during the 4th quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock valued at $2,869,149,000 after buying an additional 600,535 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Allergan by 14,208.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock valued at $155,000 after buying an additional 20,617,639 shares during the period. Longview Partners Guernsey LTD raised its holdings in shares of Allergan by 288.6% during the 4th quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock valued at $805,450,000 after buying an additional 4,475,447 shares during the period. FMR LLC raised its holdings in shares of Allergan by 6.1% during the 4th quarter. FMR LLC now owns 4,253,740 shares of the company’s stock valued at $568,554,000 after buying an additional 245,322 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Allergan by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock valued at $533,767,000 after buying an additional 247,743 shares during the period. 80.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Brent L. Saunders bought 1,760 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was bought at an average price of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Allergan in a report on Monday. They set a “hold” rating and a $144.95 target price on the stock. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Thursday, April 4th. UBS Group dropped their price objective on Allergan from $174.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada set a $165.00 price objective on Allergan and gave the stock a “hold” rating in a report on Monday, March 25th. Finally, Credit Suisse Group set a $155.00 price objective on Allergan and gave the stock a “hold” rating in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Allergan currently has a consensus rating of “Hold” and an average target price of $188.14.
Shares of AGN traded down $4.50 during mid-day trading on Wednesday, hitting $140.91. The stock had a trading volume of 502,558 shares, compared to its average volume of 1,939,735. The firm has a market cap 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 current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. Allergan plc has a fifty-two week low of $125.84 and a fifty-two week high of $197.00.
Allergan (NYSE:AGN) last issued 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 company had revenue of $4.08 billion during 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%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.86 EPS. On average, sell-side analysts predict that Allergan plc will post 16.37 earnings per share for the current fiscal year.
Allergan declared that its board has initiated a share buyback plan on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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.
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