Allergan plc (NYSE:AGN) Short Interest Up 43.9% in May

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Allergan plc (NYSE:AGN) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 5,340,700 shares, an increase of 43.9% from the April 30th total of 3,712,500 shares. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is currently 2.3 days. Currently, 1.6% of the shares of the stock are sold short.

A number of institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Allergan by 2,162.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Legacy Bridge LLC purchased a new position in shares of Allergan during the first quarter worth about $27,000. Liberty Wealth Management LLC grew its holdings in shares of Allergan by 108.8% during the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Investors Research Corp purchased a new position in shares of Allergan during the first quarter worth about $29,000. Finally, Community Bank N.A. grew its holdings in shares of Allergan by 186.3% during the first quarter. Community Bank N.A. now owns 209 shares of the company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. Royal Bank of Canada dropped their price target on Allergan from $165.00 to $140.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 8th. UBS Group dropped their price target on Allergan from $173.00 to $172.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Cantor Fitzgerald dropped their price target on Allergan from $180.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Finally, Mizuho restated a “buy” rating and issued a $194.00 price target on shares of Allergan in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $175.30.

Allergan stock traded up $0.72 during mid-day trading on Monday, hitting $116.64. The company’s stock had a trading volume of 200,399 shares, compared to its average volume of 2,777,444. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 1.06 and a beta of 1.39. Allergan has a 1 year low of $115.19 and a 1 year high of $197.00. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $135.02.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.55 by $0.24. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. Allergan had a positive return on equity of 8.45% and a negative net margin of 45.94%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.74 earnings per share. As a group, analysts predict that Allergan will post 16.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 14th were given a $0.74 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $2.96 annualized dividend and a yield of 2.54%. Allergan’s payout ratio is 17.74%.

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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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