Mawer Investment Management Ltd. Raises Position in Allergan plc (AGN)

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Mawer Investment Management Ltd. increased its stake in shares of Allergan plc (NYSE:AGN) by 8.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 165,704 shares of the company’s stock after buying an additional 13,530 shares during the period. Mawer Investment Management Ltd.’s holdings in Allergan were worth $24,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cadence Bank NA lifted its position in Allergan by 10.3% during the 1st quarter. Cadence Bank NA now owns 2,157 shares of the company’s stock valued at $316,000 after purchasing an additional 202 shares during the period. Tech Square Trading LP acquired a new position in Allergan during the 1st quarter valued at about $287,000. Synovus Financial Corp lifted its position in Allergan by 1.5% during the 1st quarter. Synovus Financial Corp now owns 21,651 shares of the company’s stock valued at $3,170,000 after purchasing an additional 323 shares during the period. Wesbanco Bank Inc. lifted its position in Allergan by 6.8% during the 1st quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock valued at $725,000 after purchasing an additional 316 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in Allergan during the 1st quarter valued at about $212,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average cost of $143.67 per share, with a total value of $252,859.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by corporate insiders.

Shares of NYSE:AGN opened at $135.51 on Tuesday. The company has a market capitalization of $44.42 billion, a P/E ratio of 8.12, a PEG ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71. Allergan plc has a fifty-two week low of $125.84 and a fifty-two week high of $197.00.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.24. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.55 billion. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. Allergan’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $3.74 EPS. On average, analysts forecast that Allergan plc will post 16.68 EPS for the current fiscal year.

Allergan announced that its board has initiated a share repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.96 dividend on an annualized basis and a yield of 2.18%. Allergan’s payout ratio is 17.74%.

A number of research analysts have issued reports on AGN shares. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. Mizuho cut their target price on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. SunTrust Banks cut their target price on shares of Allergan from $178.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. They noted that the move was a valuation call. Wells Fargo & Co restated a “buy” rating and set a $189.00 target price (down from $202.00) on shares of Allergan in a research report on Thursday, March 7th. Finally, TheStreet downgraded shares of Allergan from a “c” rating to a “d+” rating in a research report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Allergan has an average rating of “Hold” and a consensus target price of $183.00.

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Allergan 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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