ClariVest Asset Management LLC lowered its position in Allergan PLC (NYSE:AGN) by 96.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,551 shares of the company’s stock after selling 39,015 shares during the period. ClariVest Asset Management LLC’s holdings in Allergan PLC were worth $359,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in AGN. Barnett & Company Inc. bought a new stake in Allergan PLC during the first quarter worth approximately $111,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Allergan PLC during the second quarter valued at about $125,000. Trust Co. of Vermont increased its stake in shares of Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares during the period. Finally, Trust Department MB Financial Bank N A increased its stake in shares of Allergan PLC by 77.4% in the second quarter. Trust Department MB Financial Bank N A now owns 653 shares of the company’s stock valued at $198,000 after buying an additional 285 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Allergan PLC (NYSE:AGN) traded down 1.56% during mid-day trading on Monday, hitting $223.99. 3,669,995 shares of the company’s stock were exchanged. The company has a market capitalization of $88.69 billion, a price-to-earnings ratio of 21.33 and a beta of 0.81. The firm has a 50 day moving average price of $237.62 and a 200-day moving average price of $237.20. Allergan PLC has a 52 week low of $195.50 and a 52 week high of $322.68.
Allergan PLC (NYSE:AGN) last released its quarterly earnings results on Monday, August 8th. The company reported $3.35 EPS for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $4.41 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Allergan PLC will post $14.00 EPS for the current year.
AGN has been the topic of several recent research reports. Mizuho reduced their price target on shares of Allergan PLC from $305.00 to $299.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $288.87 price target on the stock in a report on Monday, August 22nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $300.00 price target on shares of Allergan PLC in a report on Tuesday, September 27th. Argus reaffirmed a “buy” rating and issued a $340.00 price target on shares of Allergan PLC in a report on Tuesday, October 4th. Finally, Bank of America Corp. set a $294.00 price target on shares of Allergan PLC and gave the company a “buy” rating in a report on Tuesday, September 20th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $302.23.
About Allergan PLC
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.