Intermede Investment Partners Ltd bought a new position in Allergan PLC (NYSE:AGN) during the second quarter, Holdings Channel reports. The institutional investor bought 163,530 shares of the company’s stock, valued at approximately $37,790,000. Allergan PLC makes up about 4.4% of Intermede Investment Partners Ltd’s holdings, making the stock its 9th largest position.
Other hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its stake in Allergan PLC by 78.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,245,934 shares of the company’s stock worth $333,948,000 after buying an additional 547,759 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Allergan PLC by 11.6% in the first quarter. TIAA CREF Investment Management LLC now owns 4,228,619 shares of the company’s stock worth $1,133,397,000 after buying an additional 437,912 shares in the last quarter. First Manhattan Co. increased its stake in Allergan PLC by 117.2% in the second quarter. First Manhattan Co. now owns 694,036 shares of the company’s stock worth $160,384,000 after buying an additional 374,443 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Allergan PLC by 92.4% in the first quarter. 1832 Asset Management L.P. now owns 670,565 shares of the company’s stock worth $310,259,000 after buying an additional 322,020 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Allergan PLC by 32.2% in the second quarter. American Century Companies Inc. now owns 1,212,392 shares of the company’s stock worth $280,172,000 after buying an additional 295,479 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
Allergan PLC (NYSE:AGN) traded down 0.66% on Wednesday, hitting $237.79. 2,144,914 shares of the company were exchanged. The stock has a market capitalization of $94.15 billion, a P/E ratio of 22.64 and a beta of 0.73. Allergan PLC has a 52-week low of $195.50 and a 52-week high of $322.68. The stock’s 50-day moving average price is $244.09 and its 200-day moving average price is $241.66.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $4.41 earnings per share. Allergan PLC’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Allergan PLC will post $14.01 earnings per share for the current fiscal year.
AGN has been the topic of a number of recent research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Allergan PLC in a research report on Wednesday, July 6th. Leerink Swann upped their target price on shares of Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 price objective on shares of Allergan PLC and gave the company a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research downgraded shares of Allergan PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 price objective on the stock in a research report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $309.68.
About Allergan PLC
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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