Allergan (NYSE:AGN) had its price objective cut by stock analysts at Raymond James from $232.00 to $198.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Raymond James’ target price would indicate a potential upside of 20.39% from the stock’s previous close.
Several other analysts have also weighed in on the company. Credit Suisse Group decreased their price objective on Allergan from $213.00 to $202.00 and set an “outperform” rating on the stock in a report on Wednesday. Cowen set a $255.00 price objective on Allergan and gave the stock a “buy” rating in a report on Tuesday. ValuEngine lowered Allergan from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada set a $220.00 price objective on Allergan and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $210.18.
Shares of NYSE AGN opened at $164.46 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $54.54 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. Allergan has a 12 month low of $142.81 and a 12 month high of $197.00.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm earned $4.15 EPS. Allergan’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts forecast that Allergan will post 16.4 earnings per share for the current fiscal year.
In related news, Director Joseph H. Boccuzi purchased 900 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $190.59 per share, with a total value of $171,531.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in Allergan by 10.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,632 shares of the company’s stock valued at $2,406,000 after buying an additional 1,210 shares in the last quarter. Tdam USA Inc. boosted its stake in Allergan by 2.9% in the 3rd quarter. Tdam USA Inc. now owns 56,791 shares of the company’s stock valued at $10,477,000 after buying an additional 1,578 shares in the last quarter. River Road Asset Management LLC boosted its stake in Allergan by 16.0% in the 3rd quarter. River Road Asset Management LLC now owns 95,165 shares of the company’s stock valued at $18,127,000 after buying an additional 13,126 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Allergan in the 3rd quarter valued at $17,128,000. Finally, TD Asset Management Inc. raised its position in Allergan by 2.4% in the 3rd quarter. TD Asset Management Inc. now owns 899,040 shares of the company’s stock valued at $171,249,000 after purchasing an additional 20,661 shares during the last quarter. 77.58% of the stock is currently owned by institutional investors and hedge funds.
Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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