UBS Group set a $250.00 target price on Allergan (NYSE:AGN) in a report released on Wednesday. The brokerage currently has a buy rating on the stock.
Several other equities analysts also recently weighed in on the company. Vetr downgraded Allergan from a buy rating to a hold rating and set a $180.97 price target for the company. in a research report on Wednesday. Deutsche Bank reissued a buy rating and set a $215.00 price target on shares of Allergan in a research report on Tuesday. Citigroup dropped their price target on Allergan to $215.00 and set a buy rating for the company in a research report on Tuesday. Wells Fargo & Co set a $245.00 price target on Allergan and gave the stock a buy rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada set a $218.00 price target on Allergan and gave the stock a buy rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. Allergan currently has a consensus rating of Hold and an average target price of $226.95.
Allergan (AGN) traded up $3.13 during trading on Wednesday, reaching $177.12. The company’s stock had a trading volume of 2,007,200 shares, compared to its average volume of 3,020,000. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $57,870.00, a P/E ratio of -7.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. Allergan has a one year low of $160.07 and a one year high of $256.80.
Allergan (NYSE:AGN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. Allergan’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.32 earnings per share. research analysts anticipate that Allergan will post 16.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, November 16th. Allergan’s dividend payout ratio is currently -12.39%.
Allergan announced that its Board of Directors has approved a share buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Allergan news, Chairman Brent L. Saunders acquired 4,600 shares of the stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average price of $164.74 per share, with a total value of $757,804.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chris W. Bodine acquired 3,030 shares of the stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,630 shares of company stock valued at $2,890,057. Company insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in AGN. Peloton Wealth Strategists grew its position in Allergan by 37.1% during the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after acquiring an additional 2,835 shares during the period. Sumitomo Life Insurance Co. grew its position in Allergan by 39.0% during the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after acquiring an additional 4,244 shares during the period. Colony Group LLC grew its position in Allergan by 9.9% during the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after acquiring an additional 3,577 shares during the period. Clear Harbor Asset Management LLC grew its position in Allergan by 67.7% during the third quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock valued at $1,033,000 after acquiring an additional 2,035 shares during the period. Finally, Alta Capital Management LLC grew its position in Allergan by 1.4% during the third quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock valued at $33,074,000 after acquiring an additional 2,151 shares during the period. 81.14% of the stock is owned by institutional investors and hedge funds.
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Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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