Duff & Phelps Investment Management Co. reduced its stake in Allergan plc (NYSE:AGN) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,299 shares of the company’s stock after selling 1,499 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Allergan were worth $15,109,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AGN. Summit Trail Advisors LLC increased its position in shares of Allergan by 160.9% during the first quarter. Summit Trail Advisors LLC now owns 22,767 shares of the company’s stock valued at $1,199,000 after buying an additional 14,042 shares during the period. Suntrust Banks Inc. increased its position in shares of Allergan by 14.5% in the first quarter. Suntrust Banks Inc. now owns 30,524 shares of the company’s stock worth $5,135,000 after purchasing an additional 3,871 shares during the last quarter. Cacti Asset Management LLC increased its position in shares of Allergan by 0.9% in the second quarter. Cacti Asset Management LLC now owns 210,554 shares of the company’s stock worth $35,495,000 after purchasing an additional 1,802 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in shares of Allergan by 2,743.8% in the second quarter. Neville Rodie & Shaw Inc. now owns 57,302 shares of the company’s stock worth $9,553,000 after purchasing an additional 55,287 shares during the last quarter. Finally, Stonebridge Capital Management Inc. increased its position in shares of Allergan by 14.8% in the second quarter. Stonebridge Capital Management Inc. now owns 6,596 shares of the company’s stock worth $1,136,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.
Several research firms recently weighed in on AGN. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a research report on Saturday, September 15th. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Mizuho restated a “hold” rating and issued a $194.00 price objective on shares of Allergan in a research report on Monday, July 30th. Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research report on Friday, July 13th. Finally, Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the stock a “hold” rating in a research report on Monday, August 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $211.91.
Allergan (NYSE:AGN) last issued its earnings results on Thursday, July 26th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.13 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.92 billion. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. Allergan’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.02 earnings per share. Sell-side analysts anticipate that Allergan plc will post 16.33 earnings per share for the current fiscal year.
In other news, Director Joseph H. Boccuzi bought 900 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, with a total value of $171,531.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher J. Coughlin bought 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by corporate insiders.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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