Epoch Investment Partners Inc. reduced its holdings in shares of Allergan PLC. (NYSE:AGN) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,788,540 shares of the company’s stock after selling 224,875 shares during the period. Allergan PLC. comprises approximately 1.5% of Epoch Investment Partners Inc.’s portfolio, making the stock its 8th biggest holding. Epoch Investment Partners Inc. owned about 0.53% of Allergan PLC. worth $434,776,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in Allergan PLC. in the 2nd quarter worth about $103,000. Jacobi Capital Management LLC increased its holdings in Allergan PLC. by 4.9% in the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after buying an additional 22 shares in the last quarter. JNBA Financial Advisors grew its stake in shares of Allergan PLC. by 2.5% during the 1st quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock valued at $116,000 after purchasing an additional 12 shares during the period. Massey Quick & Co. LLC grew its stake in shares of Allergan PLC. by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after purchasing an additional 385 shares during the period. Finally, Pacific Center for Financial Services grew its stake in shares of Allergan PLC. by 805.1% during the 1st quarter. Pacific Center for Financial Services now owns 534 shares of the company’s stock valued at $128,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.
A number of equities research analysts have issued reports on AGN shares. Morgan Stanley downgraded Allergan PLC. from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $284.00 to $228.00 in a research note on Wednesday, September 20th. Cowen and Company reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Allergan PLC. in a research report on Tuesday, August 29th. Zacks Investment Research raised Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Tuesday, July 11th. Wells Fargo & Company reissued an “outperform” rating on shares of Allergan PLC. in a report on Monday, September 11th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $262.00 price target on shares of Allergan PLC. in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $268.74.
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Shares of Allergan PLC. (AGN) traded up 0.79% on Tuesday, hitting $199.98. The stock had a trading volume of 1,832,053 shares. The company has a market cap of $66.85 billion, a price-to-earnings ratio of 6.09 and a beta of 1.15. The stock has a 50 day moving average price of $215.75 and a 200-day moving average price of $231.93. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the company posted $3.35 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts expect that Allergan PLC. will post $16.21 earnings per share for the current year.
Allergan PLC. announced that its Board of Directors has approved a stock buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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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