Allergan Sees Unusually Large Options Volume (NYSE:AGN)

Allergan plc (NYSE:AGN) saw some unusual options trading on Tuesday. Stock investors bought 28,483 put options on the stock. This is an increase of 865% compared to the average volume of 2,953 put options.

AGN has been the topic of several research analyst reports. UBS Group raised their price objective on Zayo Group from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Credit Suisse Group set a $155.00 target price on Allergan and gave the stock a “hold” rating in a research note on Monday, March 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 target price (up previously from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Sanford C. Bernstein cut Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective for the company. in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Allergan presently has a consensus rating of “Hold” and a consensus price target of $176.27.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGN. Liberty Wealth Management LLC lifted its stake in shares of Allergan by 108.8% during the 1st 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 period. Legacy Bridge LLC acquired a new stake in Allergan in the 1st quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Allergan by 2,162.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Investors Research Corp acquired a new stake in Allergan in the 1st quarter valued at $29,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in Allergan in the 2nd quarter valued at $30,000. Institutional investors own 80.08% of the company’s stock.

Shares of Allergan stock traded down $0.41 on Thursday, hitting $162.05. The stock had a trading volume of 3,322,011 shares, compared to its average volume of 3,329,003. The business has a 50 day moving average price of $144.63. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $53.84 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.63. Allergan has a 52-week low of $114.27 and a 52-week high of $197.00.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $3.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.55 by $0.24. Allergan had a positive return on equity of 8.45% and a negative net margin of 45.94%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the business earned $3.74 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Allergan will post 16.72 EPS for the current fiscal year.

About Allergan

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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