Horan Capital Management decreased its position in Allergan plc (NYSE:AGN) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,053 shares of the company’s stock after selling 1,392 shares during the quarter. Allergan accounts for about 1.4% of Horan Capital Management’s holdings, making the stock its 23rd biggest holding. Horan Capital Management’s holdings in Allergan were worth $7,474,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. JNBA Financial Advisors acquired a new stake in Allergan during the fourth quarter worth approximately $30,000. Washington Trust Bank raised its holdings in Allergan by 166.7% during the first quarter. Washington Trust Bank now owns 240 shares of the company’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in Allergan during the fourth quarter worth approximately $49,000. Ruggie Capital Group acquired a new stake in Allergan during the fourth quarter worth approximately $53,000. Finally, Lindbrook Capital LLC purchased a new position in shares of Allergan during the fourth quarter worth approximately $55,000. 80.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on AGN. Cantor Fitzgerald set a $180.00 target price on shares of Allergan and gave the stock a “hold” rating in a research report on Friday, January 4th. Jefferies Financial Group assumed coverage on shares of Allergan in a research report on Monday. They set a “hold” rating and a $144.95 target price on the stock. SunTrust Banks assumed coverage on shares of Allergan in a research report on Tuesday, March 19th. They issued a “buy” rating and a $178.00 price objective on the stock. Credit Suisse Group set a $155.00 price objective on shares of Allergan and gave the company a “hold” rating in a research report on Monday, March 25th. Finally, Mizuho lowered their price objective on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $188.14.
In related news, Chairman Brent L. Saunders bought 1,760 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were bought at an average cost of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by insiders.
NYSE:AGN traded down $1.37 during midday trading on Monday, reaching $143.58. The stock had a trading volume of 2,360,382 shares, compared to its average volume of 2,650,505. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $48.21 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, topping the consensus estimate of $4.15 by $0.14. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4 billion. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.86 EPS. As a group, analysts expect that Allergan plc will post 16.37 earnings per share for the current fiscal year.
Allergan announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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