Point72 Asset Management L.P. Has $2.73 Million Position in Allergan plc (NYSE:AGN)

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Point72 Asset Management L.P. decreased its position in shares of Allergan plc (NYSE:AGN) by 94.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,354 shares of the company’s stock after selling 306,553 shares during the quarter. Point72 Asset Management L.P.’s holdings in Allergan were worth $2,727,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in shares of Allergan during the 2nd quarter valued at $129,000. OLD Mission Capital LLC bought a new position in Allergan during the 2nd quarter worth about $308,000. Clearline Capital LP increased its holdings in Allergan by 637.3% during the 2nd quarter. Clearline Capital LP now owns 25,335 shares of the company’s stock worth $4,224,000 after purchasing an additional 21,899 shares in the last quarter. Voya Investment Management LLC increased its holdings in Allergan by 1.4% during the 2nd quarter. Voya Investment Management LLC now owns 176,153 shares of the company’s stock worth $29,368,000 after purchasing an additional 2,471 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Allergan during the 2nd quarter worth about $234,000. 77.38% of the stock is currently owned by hedge funds and other institutional investors.

Allergan stock traded up $1.06 during mid-day trading on Friday, reaching $183.28. The company had a trading volume of 2,084,762 shares, compared to its average volume of 2,552,896. Allergan plc has a fifty-two week low of $142.81 and a fifty-two week high of $207.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. The firm has a market capitalization of $64.66 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.47 and a beta of 1.19.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Thursday, July 26th. The company reported $4.42 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.92 billion. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. Allergan’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.02 earnings per share. On average, analysts expect that Allergan plc will post 16.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 17th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.57%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.

A number of equities analysts have issued reports on the company. Guggenheim initiated coverage on Allergan in a report on Monday, October 8th. They set a “buy” rating for the company. Zacks Investment Research downgraded shares of Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. SunTrust Banks raised their target price on shares of Allergan to $218.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, Piper Jaffray Companies set a $164.00 target price on shares of Allergan and gave the company a “hold” rating in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Allergan presently has a consensus rating of “Buy” and a consensus price target of $211.91.

In related news, Director Christopher J. Coughlin purchased 10,000 shares of the firm’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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph H. Boccuzi purchased 900 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was bought at an average cost of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by insiders.

Allergan Profile

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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