Boston Financial Mangement LLC lowered its position in Allergan plc (NYSE:AGN) by 3.6% during the 1st quarter, HoldingsChannel reports. The firm owned 2,957 shares of the company’s stock after selling 109 shares during the quarter. Boston Financial Mangement LLC’s holdings in Allergan were worth $433,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Allergan by 2.9% in the fourth quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock worth $2,869,149,000 after purchasing an additional 600,535 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Allergan by 14,208.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock worth $155,000 after purchasing an additional 20,617,639 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in Allergan by 288.6% in the fourth quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock worth $805,450,000 after purchasing an additional 4,475,447 shares in the last quarter. FMR LLC grew its stake in Allergan by 6.1% in the fourth quarter. FMR LLC now owns 4,253,740 shares of the company’s stock worth $568,554,000 after purchasing an additional 245,322 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Allergan by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock worth $533,767,000 after purchasing an additional 247,743 shares in the last quarter. 80.58% of the stock is currently owned by institutional investors.
In other Allergan news, Chairman Brent L. Saunders acquired 1,760 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was purchased at an average price of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.
Allergan (NYSE:AGN) last announced its earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the firm earned $4.86 EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Allergan plc will post 16.37 EPS for the current year.
Allergan announced that its Board of Directors has approved a stock repurchase plan on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several research analysts recently issued reports on the company. Cantor Fitzgerald set a $180.00 price objective on Allergan and gave the stock a “hold” rating in a research note on Friday, January 4th. Jefferies Financial Group started coverage on Allergan in a research report on Monday, April 15th. They set a “hold” rating and a $144.95 target price on the stock. SunTrust Banks started coverage on Allergan in a research report on Tuesday, March 19th. They set a “buy” rating and a $178.00 target price on the stock. Credit Suisse Group set a $155.00 target price on Allergan and gave the company a “hold” rating in a research report on Monday, March 25th. Finally, Mizuho dropped their target price on Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $188.05.
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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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