Allergan plc (AGN) Holdings Raised by Intermede Investment Partners Ltd

Intermede Investment Partners Ltd raised its holdings in shares of Allergan plc (NYSE:AGN) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,289 shares of the company’s stock after purchasing an additional 28,374 shares during the quarter. Allergan plc accounts for about 5.3% of Intermede Investment Partners Ltd’s portfolio, making the stock its 4th largest position. Intermede Investment Partners Ltd owned about 0.09% of Allergan plc worth $58,265,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Allergan plc by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after acquiring an additional 482,220 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Allergan plc by 8.8% in the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after purchasing an additional 364,722 shares during the period. Veritas Asset Management LLP acquired a new position in shares of Allergan plc in the 1st quarter valued at $761,339,000. Edgewood Management LLC increased its holdings in Allergan plc by 7.0% in the 1st quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock worth $646,090,000 after acquiring an additional 178,055 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Allergan plc by 3.8% during the first quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock worth $481,045,000 after purchasing an additional 73,081 shares in the last quarter.

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Allergan plc (NYSE AGN) opened at €172.21 ($200.24) on Friday. Allergan plc has a 12-month low of €169.64 ($197.26) and a 12-month high of €256.80 ($298.60).

Allergan plc (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported €4.15 ($4.83) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of €4.06 ($4.72) by €0.09 ($0.10). The company had revenue of €4.03 billion during the quarter, compared to the consensus estimate of €4.04 billion. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.32 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.63%.

Allergan plc announced that its Board of Directors has approved a share repurchase plan on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms recently weighed in on AGN. Mizuho restated a “buy” rating and set a $267.00 target price on shares of Allergan plc in a research note on Wednesday, August 2nd. Royal Bank of Canada set a $285.00 target price on Allergan plc and gave the company a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company raised their price target on Allergan plc to $278.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $273.00 price objective (up previously from $265.00) on shares of Allergan plc in a research report on Monday, July 17th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $286.00 price objective (up previously from $274.00) on shares of Allergan plc in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Allergan plc presently has an average rating of “Hold” and a consensus target price of €246.73 ($286.90).

Allergan plc Company Profile

Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women’s health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer’s disease.

Institutional Ownership by Quarter for Allergan plc (NYSE:AGN)

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