Velanne Asset Management Ltd Has $6.39 Million Position in Allergan plc (AGN)

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Velanne Asset Management Ltd lifted its stake in shares of Allergan plc (NYSE:AGN) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,632 shares of the company’s stock after buying an additional 1,710 shares during the period. Allergan comprises about 4.4% of Velanne Asset Management Ltd’s holdings, making the stock its 14th largest position. Velanne Asset Management Ltd’s holdings in Allergan were worth $6,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. JNBA Financial Advisors purchased a new position in shares of Allergan during the fourth quarter valued at approximately $30,000. Washington Trust Bank lifted 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 acquiring an additional 150 shares during the period. IMS Capital Management bought a new stake in Allergan during the third quarter worth $66,000. Bruderman Asset Management LLC bought a new stake in Allergan during the fourth quarter worth $49,000. Finally, Ruggie Capital Group bought a new stake in Allergan during the fourth quarter worth $53,000. 80.65% of the stock is currently owned by institutional investors.

In related news, Chairman Brent L. Saunders bought 1,760 shares of the stock in a transaction dated Thursday, March 7th. The stock was bought at an average price of $143.67 per share, with a total value of $252,859.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Shares of NYSE:AGN traded down $4.87 during midday trading on Wednesday, reaching $140.54. 581,643 shares of the company traded hands, compared to its average volume of 1,939,735. 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 quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $48.36 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 1.15 and a beta of 1.34.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.15 by $0.14. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the business earned $4.86 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts predict that Allergan plc will post 16.37 EPS for the current fiscal year.

Allergan announced that its board has authorized a share repurchase plan on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

A number of analysts recently commented on AGN shares. Leerink Swann set a $217.00 price target on Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. Credit Suisse Group lowered Allergan from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $197.00 to $161.00 in a report on Thursday, January 31st. ValuEngine lowered Allergan from a “sell” rating to a “strong sell” rating in a report on Thursday, April 4th. Zacks Investment Research lowered Allergan from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, TheStreet lowered Allergan from a “c” rating to a “d+” rating in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $188.14.

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Allergan 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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