HealthCor Management L.P. raised its holdings in Allergan plc (NYSE:AGN) by 14.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 825,000 shares of the company’s stock after buying an additional 101,790 shares during the quarter. Allergan makes up about 4.4% of HealthCor Management L.P.’s holdings, making the stock its 7th largest position. HealthCor Management L.P.’s holdings in Allergan were worth $134,954,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Avestar Capital LLC bought a new position in shares of Allergan during the fourth quarter valued at about $113,000. Focused Wealth Management Inc lifted its position in shares of Allergan by 4,444.4% during the fourth quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock valued at $134,000 after purchasing an additional 800 shares in the last quarter. BB&T Investment Services Inc. lifted its position in shares of Allergan by 1,308.2% during the third quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock valued at $139,000 after purchasing an additional 641 shares in the last quarter. Acropolis Investment Management LLC bought a new position in shares of Allergan during the fourth quarter valued at about $153,000. Finally, Field & Main Bank bought a new position in shares of Allergan during the fourth quarter valued at about $155,000. 78.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Credit Suisse Group set a $214.00 price target on shares of Allergan and gave the company a “buy” rating in a research report on Monday, January 22nd. Vetr lowered shares of Allergan from a “hold” rating to a “sell” rating and set a $180.97 price target on the stock. in a research report on Monday, January 22nd. Morgan Stanley restated a “buy” rating on shares of Allergan in a report on Wednesday, January 24th. Barclays upgraded shares of Allergan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $220.00 to $230.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Allergan from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $225.03.
Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $3.90 earnings per share. Allergan’s revenue was up 12.0% compared to the same quarter last year. analysts predict that Allergan plc will post 15.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be given a $0.72 dividend. This is a positive change from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Tuesday, February 27th. Allergan’s dividend payout ratio (DPR) is -21.46%.
In other Allergan news, insider William Meury sold 58,879 shares of Allergan stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total transaction of $9,457,144.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph H. Boccuzi bought 900 shares of the company’s stock in a transaction on Monday, March 5th. The shares were bought at an average price of $143.42 per share, with a total value of $129,078.00. The disclosure for this purchase can be found here. Insiders bought 7,200 shares of company stock valued at $1,108,267 over the last 90 days. 0.36% of the stock is owned by company insiders.
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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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