Chemung Canal Trust Co. raised its position in shares of Allergan PLC (NYSE:AGN) by 695.8% during the second quarter, Holdings Channel reports. The fund owned 15,630 shares of the company’s stock after buying an additional 13,666 shares during the period. Chemung Canal Trust Co.’s holdings in Allergan PLC were worth $3,612,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Barnett & Company Inc. acquired a new stake in Allergan PLC during the first quarter worth approximately $111,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Allergan PLC during the second quarter worth approximately $125,000. Trust Co. of Vermont increased its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock worth $126,000 after buying an additional 89 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock worth $137,000 after buying an additional 154 shares during the last quarter. Finally, Trust Department MB Financial Bank N A increased its stake in Allergan PLC by 77.4% in the second quarter. Trust Department MB Financial Bank N A now owns 653 shares of the company’s stock worth $198,000 after buying an additional 285 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.
Allergan PLC (NYSE:AGN) traded up 0.71% on Wednesday, reaching $229.56. 2,029,313 shares of the company’s stock were exchanged. The firm has a market capitalization of $90.89 billion, a price-to-earnings ratio of 21.86 and a beta of 0.81. The stock’s 50 day moving average price is $237.35 and its 200 day moving average price is $237.14. Allergan PLC has a 1-year low of $195.50 and a 1-year high of $322.68.
Allergan PLC (NYSE:AGN) last released its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The company earned $3.68 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business earned $4.41 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that Allergan PLC will post $14.00 earnings per share for the current year.
A number of research firms have commented on AGN. Deutsche Bank AG set a $278.00 price objective on shares of Allergan PLC and gave the company a “buy” rating in a report on Saturday. Mizuho restated a “hold” rating and set a $232.00 price target on shares of Allergan PLC in a report on Monday, July 11th. RBC Capital Markets restated an “outperform” rating and set a $300.00 price target (down previously from $307.00) on shares of Allergan PLC in a report on Wednesday, August 10th. Piper Jaffray Cos. set a $227.00 price target on shares of Allergan PLC and gave the stock a “hold” rating in a report on Tuesday, August 9th. Finally, Morgan Stanley restated an “overweight” rating on shares of Allergan PLC in a report on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $302.23.
Allergan PLC Company Profile
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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