Wells Fargo reiterated their buy rating on shares of Allergan (NYSE:AGN) in a research report sent to investors on Thursday.
A number of other research analysts also recently commented on AGN. Cantor Fitzgerald reaffirmed a hold rating and set a $180.00 price objective on shares of Allergan in a research note on Monday, May 7th. Credit Suisse Group dropped their price objective on shares of Allergan from $215.00 to $213.00 and set an outperform rating for the company in a research note on Thursday, May 3rd. ValuEngine downgraded shares of Allergan from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. Bank of America dropped their price objective on shares of Allergan from $213.00 to $209.00 and set a buy rating for the company in a research note on Tuesday, May 1st. Finally, Mizuho dropped their price objective on shares of Allergan to $150.00 and set a neutral rating for the company in a research note on Tuesday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Allergan presently has an average rating of Hold and an average target price of $214.81.
Allergan opened at $158.43 on Thursday, Marketbeat reports. The stock has a market capitalization of $54.33 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.14 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.10. Allergan has a 12-month low of $142.81 and a 12-month high of $256.80.
Allergan (NYSE:AGN) last released its earnings results on Monday, April 30th. The company reported $3.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.38. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.59 billion. Allergan had a negative net margin of 11.94% and a positive return on equity of 8.53%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.35 EPS. analysts forecast that Allergan will post 16.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 18th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, May 17th. Allergan’s dividend payout ratio (DPR) is presently 17.61%.
In related news, CFO Matthew M. Walsh purchased 1,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was purchased at an average price of $153.96 per share, for a total transaction of $153,960.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maria Teresa Hilado purchased 895 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $167.39 per share, with a total value of $149,814.05. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 8,095 shares of company stock valued at $1,258,081. Corporate insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prosight Management LP purchased a new position in Allergan in the 4th quarter worth approximately $16,031,000. Tower Research Capital LLC TRC boosted its holdings in Allergan by 479.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the company’s stock worth $289,000 after acquiring an additional 1,463 shares during the period. Canyon Capital Advisors LLC boosted its holdings in Allergan by 248.4% in the 4th quarter. Canyon Capital Advisors LLC now owns 501,494 shares of the company’s stock worth $82,034,000 after acquiring an additional 357,559 shares during the period. Vantage Financial Partners Ltd. Inc. boosted its holdings in Allergan by 23.8% in the 4th quarter. Vantage Financial Partners Ltd. Inc. now owns 6,250 shares of the company’s stock worth $1,018,000 after acquiring an additional 1,200 shares during the period. Finally, Spark Investment Management LLC purchased a new position in Allergan in the 4th quarter worth approximately $3,157,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.
Allergan Company Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.
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