A number of other research analysts have also recently issued reports on the company. Mizuho decreased their target price on Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Credit Suisse Group decreased their target price on Allergan from $200.00 to $197.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 8th. Wells Fargo & Co reiterated a “buy” rating and issued a $189.00 target price (down previously from $202.00) on shares of Allergan in a research report on Thursday, March 7th. TheStreet cut Allergan from a “c” rating to a “d+” rating in a research report on Tuesday, January 29th. Finally, Morgan Stanley cut Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 target price on the stock. in a research report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $186.68.
Shares of NYSE AGN opened at $140.05 on Tuesday. Allergan has a 52 week low of $125.84 and a 52 week high of $197.00. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $48.50 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.34 and a beta of 1.32.
Allergan (NYSE:AGN) last released its earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.55 by $0.24. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business posted $3.74 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Allergan will post 16.38 EPS for the current year.
Allergan announced that its board has authorized a stock buyback program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Chairman Brent L. Saunders purchased 1,760 shares of Allergan stock in a transaction dated Thursday, March 7th. The shares were bought at an average cost of $143.67 per share, for a total transaction of $252,859.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AGN. Oregon Public Employees Retirement Fund grew its holdings in shares of Allergan by 14,208.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock worth $155,000 after purchasing an additional 20,617,639 shares during the last quarter. Longview Partners Guernsey LTD grew its holdings in shares of Allergan by 288.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock worth $805,450,000 after purchasing an additional 4,475,447 shares during the last quarter. Norges Bank bought a new stake in shares of Allergan during the fourth quarter worth about $484,853,000. Janus Henderson Group PLC grew its holdings in shares of Allergan by 27.6% during the first quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock worth $857,312,000 after purchasing an additional 1,265,742 shares during the last quarter. Finally, Ellis Investment Partners LLC grew its holdings in shares of Allergan by 14,302.8% during the first quarter. Ellis Investment Partners LLC now owns 852,214 shares of the company’s stock worth $852,000 after purchasing an additional 846,297 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.
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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