Allergan plc (NYSE:AGN) posted its quarterly earnings data on Tuesday. The company reported $3.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. Allergan plc had a net margin of 100.04% and a return on equity of 7.21%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $3.04 EPS. Allergan plc updated its FY17 guidance to $15.85-16.35 EPS.
Shares of Allergan plc (NYSE:AGN) traded up 0.18% during trading on Friday, reaching $219.13. 2,958,041 shares of the company were exchanged. Allergan plc has a 1-year low of $184.50 and a 1-year high of $261.27. The company has a market capitalization of $73.60 billion, a price-to-earnings ratio of 6.83 and a beta of 1.07. The stock’s 50 day moving average is $236.44 and its 200 day moving average is $222.55.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, May 16th.
In other news, Director Paul Bisaro sold 70,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $246.68, for a total transaction of $17,267,600.00. Following the completion of the sale, the director now owns 274,226 shares of the company’s stock, valued at $67,646,069.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Baupost Group LLC MA raised its stake in Allergan plc by 71.5% in the fourth quarter. Baupost Group LLC MA now owns 3,432,603 shares of the company’s stock worth $720,881,000 after buying an additional 1,430,625 shares during the last quarter. Swedbank boosted its position in shares of Allergan plc by 0.6% in the third quarter. Swedbank now owns 645,371 shares of the company’s stock valued at $148,635,000 after buying an additional 3,940 shares during the last quarter. First Personal Financial Services boosted its position in shares of Allergan plc by 22.7% in the third quarter. First Personal Financial Services now owns 17,175 shares of the company’s stock valued at $3,956,000 after buying an additional 3,174 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Allergan plc during the third quarter valued at $16,404,000. Finally, HighTower Advisors LLC boosted its position in shares of Allergan plc by 18.9% in the third quarter. HighTower Advisors LLC now owns 40,816 shares of the company’s stock valued at $9,421,000 after buying an additional 6,474 shares during the last quarter. 86.40% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Leerink Swann set a $271.00 price target on shares of Allergan plc and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Deutsche Bank AG raised their price target on shares of Allergan plc from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, March 28th. Vetr downgraded shares of Allergan plc from a “buy” rating to a “hold” rating and set a $228.27 price objective for the company. in a report on Wednesday, February 1st. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $274.00 price objective on shares of Allergan plc in a report on Tuesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $279.00 price objective on shares of Allergan plc in a report on Tuesday, March 14th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $267.21.
About Allergan plc
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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