Allergan plc (NYSE:AGN) – Research analysts at SunTrust Banks raised their FY2018 earnings per share estimates for Allergan in a note issued to investors on Wednesday, October 31st. SunTrust Banks analyst J. Boris now expects that the company will earn $16.57 per share for the year, up from their previous estimate of $16.54. SunTrust Banks has a “Buy” rating and a $218.00 price objective on the stock. SunTrust Banks also issued estimates for Allergan’s Q4 2018 earnings at $4.17 EPS, FY2020 earnings at $18.83 EPS, FY2021 earnings at $21.07 EPS and FY2022 earnings at $22.91 EPS.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.04 by $0.21. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.15 EPS.
A number of other research firms also recently commented on AGN. Zacks Investment Research downgraded shares of Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. TheStreet raised shares of Allergan from a “d+” rating to a “c” rating in a research report on Monday, August 20th. Cowen set a $255.00 target price on shares of Allergan and gave the company a “buy” rating in a research report on Wednesday, October 17th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $180.00 target price on shares of Allergan in a research report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $210.18.
AGN stock opened at $163.05 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.29 and a beta of 1.31. Allergan has a 12 month low of $142.81 and a 12 month high of $197.00. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.
Several institutional investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in Allergan in the 2nd quarter worth approximately $129,000. Gradient Investments LLC boosted its stake in Allergan by 747.5% in the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock worth $129,000 after purchasing an additional 598 shares in the last quarter. Kaizen Advisory LLC boosted its stake in Allergan by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock worth $138,000 after purchasing an additional 506 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Allergan by 3,193.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after purchasing an additional 958 shares in the last quarter. Finally, Aries Wealth Management acquired a new stake in Allergan in the 2nd quarter worth approximately $202,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $190.64 per share, with a total value of $1,906,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph H. Boccuzi acquired 900 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was purchased at an average cost of $190.59 per share, for a total transaction of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, November 9th. Allergan’s payout ratio is currently 17.61%.
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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