Investors Buy Allergan (AGN) on Weakness
Investors bought shares of Allergan plc (NYSE:AGN) on weakness during trading on Monday. $154.62 million flowed into the stock on the tick-up and $112.30 million flowed out of the stock on the tick-down, for a money net flow of $42.32 million into the stock. Of all stocks tracked, Allergan had the 9th highest net in-flow for the day. Allergan traded down ($0.31) for the day and closed at $162.46
Several brokerages have recently issued reports on AGN. Bank of America increased their price objective on shares of Allergan from $208.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Credit Suisse Group increased their price objective on shares of Allergan from $214.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Leerink Swann raised their target price on shares of Allergan from $237.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. ValuEngine downgraded shares of Allergan from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $191.00 target price on shares of Allergan in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $227.23.
The stock has a market capitalization of $54,130.00, a P/E ratio of -13.55, a P/E/G ratio of 1.17 and a beta of 1.19. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.41.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th 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 1.77%. The ex-dividend date is Tuesday, February 27th. This is a boost from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio (DPR) is currently -23.35%.
In related news, Director Chris W. Bodine bought 3,030 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average price of $164.77 per share, for a total transaction of $499,253.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Meury sold 11,807 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders have bought 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new stake in Allergan in the 2nd quarter worth about $369,000. New Mountain Vantage Advisers L.L.C. raised its stake in Allergan by 11.3% in the 2nd quarter. New Mountain Vantage Advisers L.L.C. now owns 136,593 shares of the company’s stock worth $33,204,000 after purchasing an additional 13,869 shares in the last quarter. Redmile Group LLC acquired a new stake in Allergan in the 2nd quarter worth about $292,000. IHT Wealth Management LLC raised its stake in Allergan by 3.2% in the 2nd quarter. IHT Wealth Management LLC now owns 4,215 shares of the company’s stock worth $1,016,000 after purchasing an additional 131 shares in the last quarter. Finally, Balentine LLC raised its stake in Allergan by 5.6% in the 2nd quarter. Balentine LLC now owns 966 shares of the company’s stock worth $235,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.
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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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