Icon Wealth Partners LLC lessened its stake in shares of Allergan plc (NYSE:AGN) by 11.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,435 shares of the company’s stock after selling 438 shares during the period. Icon Wealth Partners LLC’s holdings in Allergan were worth $578,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in AGN. Nuveen Asset Management LLC lifted its position in shares of Allergan by 1,665.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after acquiring an additional 2,928,846 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Allergan by 415.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,777,375 shares of the company’s stock valued at $299,114,000 after acquiring an additional 1,432,555 shares during the period. Magnetar Financial LLC lifted its position in shares of Allergan by 7,332.9% during the 2nd quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock valued at $161,783,000 after acquiring an additional 953,272 shares during the period. OZ Management LP acquired a new position in shares of Allergan during the 2nd quarter valued at $150,878,000. Finally, Paulson & CO. Inc. lifted its position in shares of Allergan by 45.2% during the 2nd quarter. Paulson & CO. Inc. now owns 2,249,500 shares of the company’s stock valued at $376,634,000 after acquiring an additional 700,000 shares during the period. Institutional investors own 80.52% of the company’s stock.
AGN has been the topic of a number of research reports. Mizuho downgraded shares of Allergan from a “buy” rating to a “neutral” rating and boosted their target price for the company from $171.00 to $188.00 in a research report on Wednesday, June 26th. Barclays boosted their price target on shares of Allergan from $176.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. TheStreet upgraded shares of Allergan from a “d+” rating to a “c” rating in a research note on Friday, July 12th. ValuEngine upgraded shares of Allergan from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $178.00 price target on shares of Allergan in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $179.15.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.34 by $0.04. Allergan had a negative net margin of 54.25% and a positive return on equity of 8.73%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the business posted $4.42 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that Allergan plc will post 16.68 earnings per share for the current fiscal year.
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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