Orca Investment Management LLC acquired a new stake in Allergan plc (NYSE:AGN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,052 shares of the company’s stock, valued at approximately $1,861,000. Allergan plc accounts for 1.8% of Orca Investment Management LLC’s holdings, making the stock its 23rd largest position.
Several other hedge funds have also recently made changes to their positions in the company. Grimes & Company Inc. bought a new position in Allergan plc during the second quarter valued at $5,082,000. Investment House LLC raised its position in Allergan plc by 7.9% in the second quarter. Investment House LLC now owns 16,588 shares of the company’s stock valued at $3,833,000 after buying an additional 1,216 shares during the period. Rehmann Capital Advisory Group raised its position in Allergan plc by 6.9% in the second quarter. Rehmann Capital Advisory Group now owns 2,235 shares of the company’s stock valued at $516,000 after buying an additional 144 shares during the period. JFS Wealth Advisors LLC raised its position in Allergan plc by 1,032.8% in the second quarter. JFS Wealth Advisors LLC now owns 1,382 shares of the company’s stock valued at $319,000 after buying an additional 1,260 shares during the period. Finally, Round Table Services LLC bought a new position in Allergan plc during the second quarter valued at $446,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
Allergan plc (NYSE:AGN) traded up 2.11% on Thursday, reaching $243.43. 3,055,749 shares of the company traded hands. The company has a market capitalization of $96.39 billion, a PE ratio of 23.18 and a beta of 0.73. Allergan plc has a 52-week low of $195.50 and a 52-week high of $322.68. The stock has a 50-day moving average of $244.93 and a 200 day moving average of $243.01.
Allergan plc (NYSE:AGN) last released its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.34 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Allergan plc had a net margin of 28.06% and a return on equity of 7.67%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.41 EPS. On average, equities analysts forecast that Allergan plc will post $14.01 EPS for the current year.
Several equities analysts have weighed in on the company. Bank of America Corp. set a $294.00 target price on Allergan plc and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald lowered Allergan plc from a “buy” rating to a “hold” rating in a report on Wednesday. Mizuho restated a “buy” rating and set a $305.00 target price on shares of Allergan plc in a report on Wednesday, September 14th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Allergan plc in a report on Monday, September 12th. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $227.00 target price on shares of Allergan plc in a report on Tuesday, August 30th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $308.54.
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.
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