Farmers & Merchants Investments Inc. lowered its stake in shares of Allergan plc (NYSE:AGN) by 45.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,222 shares of the company’s stock after selling 14,268 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Allergan were worth $2,898,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moody National Bank Trust Division increased its position in Allergan by 0.4% during the 3rd quarter. Moody National Bank Trust Division now owns 24,411 shares of the company’s stock worth $4,108,000 after purchasing an additional 93 shares in the last quarter. Tuttle Tactical Management acquired a new stake in Allergan during the 3rd quarter worth approximately $929,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Allergan by 6.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,479 shares of the company’s stock worth $12,702,000 after purchasing an additional 4,505 shares in the last quarter. Optimum Investment Advisors increased its position in Allergan by 222.2% during the 3rd quarter. Optimum Investment Advisors now owns 725 shares of the company’s stock worth $122,000 after purchasing an additional 500 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Allergan by 18.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 90,320 shares of the company’s stock worth $15,200,000 after purchasing an additional 14,150 shares in the last quarter. 80.52% of the stock is owned by institutional investors.
Allergan stock opened at $173.60 on Monday. The stock has a market cap of $56.60 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.04 and a beta of 1.65. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $166.16 and a 200-day moving average of $152.51. Allergan plc has a 52 week low of $114.27 and a 52 week high of $191.72.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.04. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business posted $4.42 earnings per share. As a group, equities analysts predict that Allergan plc will post 16.68 earnings per share for the current fiscal year.
AGN has been the subject of a number of research analyst reports. Leerink Swann downgraded shares of Allergan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $217.00 to $188.00 in a research report on Thursday, July 18th. SunTrust Banks increased their target price on shares of Allergan to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Raymond James downgraded shares of Allergan from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Wells Fargo & Co reissued an “outperform” rating and set a $184.00 target price (up previously from $176.00) on shares of Allergan in a research report on Monday, September 30th. Finally, TheStreet raised shares of Allergan from a “d+” rating to a “c” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $179.15.
Allergan Company 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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