Traders Buy Allergan (AGN) on Weakness

Investors purchased shares of Allergan (NYSE:AGN) on weakness during trading hours on Thursday. $562.69 million flowed into the stock on the tick-up and $523.30 million flowed out of the stock on the tick-down, for a money net flow of $39.39 million into the stock. Of all stocks tracked, Allergan had the 20th highest net in-flow for the day. Allergan traded down ($6.99) for the day and closed at $158.59

AGN has been the subject of several recent research reports. ValuEngine downgraded Allergan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Royal Bank of Canada set a $218.00 price objective on Allergan and gave the company a “buy” rating in a report on Thursday, January 4th. Wells Fargo set a $245.00 target price on shares of Allergan and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, Citigroup reduced their target price on shares of Allergan to $215.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Allergan has an average rating of “Hold” and a consensus target price of $220.91.

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The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.16. The firm has a market cap of $58,113.34, a PE ratio of 9.70, a PEG ratio of 1.19 and a beta of 1.18.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.43%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $3.90 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. research analysts forecast that Allergan will post 15.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.72 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.82%. This is an increase from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio is 17.61%.

In other news, CEO Brent L. Saunders bought 3,300 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were purchased at an average price of $152.53 per share, for a total transaction of $503,349.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Meury sold 58,879 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total value of $9,457,144.98. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 8,095 shares of company stock worth $1,258,081. Corporate insiders own 0.36% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avestar Capital LLC purchased a new stake in Allergan in the fourth quarter valued at approximately $113,000. Focused Wealth Management Inc boosted its position in Allergan by 4,444.4% in the fourth quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock valued at $134,000 after buying an additional 800 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in Allergan in the fourth quarter valued at approximately $153,000. Field & Main Bank purchased a new stake in Allergan in the fourth quarter valued at approximately $155,000. Finally, Captrust Financial Advisors purchased a new stake in Allergan in the fourth quarter valued at approximately $175,000. Hedge funds and other institutional investors own 77.95% of the company’s stock.

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Allergan 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.

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