New Mexico Educational Retirement Board lessened its holdings in Allergan plc (NYSE:AGN) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,429 shares of the company’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Allergan were worth $3,869,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. JNBA Financial Advisors acquired a new position in Allergan during the 4th quarter worth about $30,000. Washington Trust Bank lifted its position in Allergan by 166.7% during the 1st quarter. Washington Trust Bank now owns 240 shares of the company’s stock worth $35,000 after buying an additional 150 shares in the last quarter. IMS Capital Management acquired a new position in Allergan during the 3rd quarter worth about $66,000. Bruderman Asset Management LLC acquired a new position in Allergan during the 4th quarter worth about $49,000. Finally, Ruggie Capital Group acquired a new position in Allergan during the 4th quarter worth about $53,000. 80.65% of the stock is currently owned by hedge funds and other institutional investors.
In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average cost of $143.67 per share, with a total value of $252,859.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by corporate insiders.
Shares of AGN stock opened at $144.82 on Wednesday. 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 stock has a market capitalization of $48.36 billion, a PE ratio of 8.68, a P/E/G ratio of 1.15 and a beta of 1.34. Allergan plc has a one year low of $125.84 and a one year high of $197.00.
Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $0.14. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4 billion. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. Allergan’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.86 EPS. As a group, sell-side analysts expect that Allergan plc will post 16.37 earnings per share for the current fiscal year.
Allergan announced that its board has initiated a share repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Several brokerages recently issued reports on AGN. Jefferies Financial Group began coverage on shares of Allergan in a research report on Monday. They set a “hold” rating and a $144.95 price target on the stock. ValuEngine downgraded shares of Allergan from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. UBS Group reduced their price target on shares of Allergan from $174.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada set a $165.00 price target on shares of Allergan and gave the stock a “hold” rating in a research report on Monday, March 25th. Finally, Credit Suisse Group set a $155.00 price target on shares of Allergan and gave the stock a “hold” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $188.14.
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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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