Insider Buying: Allergan plc (AGN) CFO Purchases 2,000 Shares of Stock

Allergan plc (NYSE:AGN) CFO Matthew M. Walsh bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $160.94 per share, with a total value of $321,880.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Allergan plc (NYSE AGN) traded up $2.69 on Friday, hitting $162.09. The stock had a trading volume of 2,570,894 shares, compared to its average volume of 3,116,057. Allergan plc has a fifty-two week low of $156.00 and a fifty-two week high of $256.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.88 and a current ratio of 1.16. The firm has a market cap of $52,650.00, a PE ratio of -13.52, a PEG ratio of 1.13 and a beta of 1.19.

Allergan (NYSE:AGN) last issued its earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.12. Allergan had a positive return on equity of 8.43% and a negative net margin of 26.32%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm posted $3.90 EPS. Allergan’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts anticipate that Allergan plc will post 15.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.78%. This is a boost from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, February 27th. Allergan’s dividend payout ratio (DPR) is currently -23.35%.

Hedge funds have recently added to or reduced their stakes in the stock. Peloton Wealth Strategists increased its holdings in Allergan by 37.1% during the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after purchasing an additional 2,835 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in Allergan by 67.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock valued at $1,033,000 after purchasing an additional 2,035 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in Allergan by 35.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 203,238 shares of the company’s stock valued at $33,246,000 after purchasing an additional 53,653 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Allergan by 16.1% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 5,177 shares of the company’s stock valued at $1,061,000 after purchasing an additional 718 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Allergan by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 1,366,552 shares of the company’s stock valued at $280,075,000 after purchasing an additional 14,440 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on AGN shares. Argus downgraded Allergan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $256.80 to $160.07 in a research report on Thursday, December 7th. Deutsche Bank reiterated a “buy” rating and issued a $215.00 price objective on shares of Allergan in a research report on Tuesday, January 9th. Barclays upgraded Allergan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $220.00 to $230.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Vetr downgraded Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price objective for the company. in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and an average target price of $225.94.

TRADEMARK VIOLATION NOTICE: “Insider Buying: Allergan plc (AGN) CFO Purchases 2,000 Shares of Stock” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/23/insider-buying-allergan-plc-agn-cfo-purchases-2000-shares-of-stock.html.

About Allergan

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.

Insider Buying and Selling by Quarter for Allergan (NYSE:AGN)

Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply