Home / Biopharma / Allergan plc (NYSE:AGN) Buyback Program Creates Positive Sentiments

Allergan plc (NYSE:AGN) Buyback Program Creates Positive Sentiments

Allergan plc (NYSE:AGN) [Trend Analysis] regains street interests, as shares increased 5.28% on Wednesday and it traded at $225.00. The 52-week high of the share price is -33.89% and 52-week low of the share price is 15.09%. Board of Allergan (AGN) permits new $10B share buyback program. The firm expects to execute $4 billion to $5 billion in open market repurchases over four to six months subject to favorable market conditions. The share repurchase program is pending the completion of and receipt of proceeds from the divestiture of its Global Generics business to Teva, expected to close by the end of June 2016. Allergan plc (AGN) reported strong performance with net revenue from continuing operations increasing 48 percent to $3.8 billion for the quarter ended March 31, 2016, compared to $2.6 billion in the first quarter 2015. On a non-GAAP basis, diluted earnings per share from continuing operations increased 15 percent to $3.04 for the first quarter 2016, compared to $2.65 in the first quarter 2015.

Moving toward technical analysis, the current ratio, or the liquidity ratio of a company was calculated 1.00 as compared to its debt to equity ratio stands at 0.60. This is an important indicator as a higher ratio typically suggests that investors are investing more confidently as compared to companies in the same industry has lower ratios. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 23.00%. Investors looking further ahead will note that the Price to next year’s EPS is 21.71%.

As for as concerns shares volumes, in share capital Allergan plc (NYSE:AGN) has 412.15 million outstanding shares among them 394.40 million shares have been floated in market exchange. The firm’s institutional ownership remained 89.90% while insider ownership included 0.10%.

The stock showed weekly upbeat performance of 4.74%, which maintained for the month at -1.48%. Likewise the positive performance for the quarter recorded as -17.38% and for the year was -25.43%, while the YTD performance remained at -28.00%.


About Devon Leftovich

Devon Leftovich is an entrepreneur. He has been writing and editing professionally for over six years. He is admin editor and senior content writer of SWR. However, he has determined to give investors something rare, a dignified partner who can manage money with integrity and a clear conscience about the degree of due diligence behind investment decisions. He said, "I love the financial world because it is like one big puzzle and I hope we the SWR help each other out to solve the puzzle to help us realize our dreams." Interests: Analysis of different Companies; including news and analyst rating updates. He performs analysis of Companies and publicizes important information for investor/traders community. Stocks long-term and short-term holding views, Tech Stocks

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