Shares of Allergan plc (NYSE:AGN) have been given a consensus rating of “Buy” by the twenty-six brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $212.39.
A number of equities analysts have recently issued reports on AGN shares. Royal Bank of Canada set a $220.00 target price on Allergan and gave the stock a “buy” rating in a research note on Friday, November 30th. Raymond James reissued a “buy” rating and set a $232.00 target price (up from $211.00) on shares of Allergan in a research note on Monday, September 17th. ValuEngine downgraded Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. Deutsche Bank set a $210.00 target price on Allergan and gave the stock a “buy” rating in a research note on Wednesday, September 12th. Finally, Cowen set a $255.00 target price on Allergan and gave the stock a “buy” rating in a research note on Wednesday, October 17th.
AGN traded down $3.10 on Friday, hitting $152.42. 1,627,781 shares of the company traded hands, compared to its average volume of 2,516,805. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a market cap of $51.94 billion, a PE ratio of 9.32, a P/E/G ratio of 1.19 and a beta of 1.29. Allergan has a 12-month low of $142.81 and a 12-month high of $197.00.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.15 EPS. As a group, sell-side analysts expect that Allergan will post 16.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is currently 17.61%.
In other news, CFO Matthew M. Walsh purchased 1,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were acquired at an average price of $157.00 per share, for a total transaction of $157,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parnassus Investments CA grew its holdings in shares of Allergan by 3.1% in the 2nd quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock worth $307,566,000 after acquiring an additional 55,029 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Allergan by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock worth $591,116,000 after acquiring an additional 99,490 shares during the period. Toronto Dominion Bank grew its holdings in shares of Allergan by 1.5% in the 2nd quarter. Toronto Dominion Bank now owns 517,895 shares of the company’s stock worth $90,451,000 after acquiring an additional 7,683 shares during the period. TPG Group Holdings SBS Advisors Inc. grew its holdings in Allergan by 110.9% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 131,212 shares of the company’s stock valued at $21,876,000 after buying an additional 69,000 shares during the last quarter. Finally, Wright Investors Service Inc. grew its holdings in Allergan by 24.9% during the 3rd quarter. Wright Investors Service Inc. now owns 3,779 shares of the company’s stock valued at $720,000 after buying an additional 753 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
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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