Berson & Corrado Investment Advisors LLC lessened its holdings in Allergan plc (NYSE:AGN) by 60.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,419 shares of the company’s stock after selling 16,209 shares during the period. Berson & Corrado Investment Advisors LLC’s holdings in Allergan were worth $1,704,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Edgewood Management LLC grew its position in shares of Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares during the period. Baupost Group LLC MA grew its position in shares of Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after acquiring an additional 531,600 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Allergan by 4,852.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after buying an additional 492,930 shares during the period. Vanguard Group Inc. boosted its holdings in Allergan 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 buying an additional 482,220 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Allergan in the 3rd quarter worth approximately $92,182,000. Institutional investors own 81.21% of the company’s stock.
Shares of Allergan plc (NYSE:AGN) opened at $178.54 on Friday. Allergan plc has a 52 week low of $160.07 and a 52 week high of $256.80. The firm has a market cap of $59,950.00, a PE ratio of -7.90, a PEG ratio of 1.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the company posted $3.32 EPS. Allergan’s revenue was up 11.4% on a year-over-year basis. sell-side analysts forecast that Allergan plc will post 16.27 earnings per share for the current fiscal year.
In other news, insider William Meury sold 11,807 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. Insiders acquired 17,630 shares of company stock valued at $2,890,057 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.
Several research firms recently commented on AGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective (down from $277.00) on shares of Allergan in a report on Thursday, October 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $275.00 price objective on shares of Allergan and gave the company a “buy” rating in a research report on Sunday, October 22nd. Wells Fargo & Co set a $245.00 price objective on shares of Allergan and gave the company a “buy” rating in a research report on Friday, January 5th. Credit Suisse Group set a $214.00 price objective on shares of Allergan and gave the company a “buy” rating in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Mizuho cut shares of Allergan from a “buy” rating to a “neutral” rating and set a $193.00 target price on the stock. in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Allergan currently has an average rating of “Buy” and an average price target of $227.56.
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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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