Allergan (NYSE:AGN) Sets New 1-Year High at $186.17

Allergan plc (NYSE:AGN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $186.17 and last traded at $185.64, with a volume of 9867 shares. The stock had previously closed at $185.09.

Several research firms have weighed in on AGN. Royal Bank of Canada reaffirmed a “hold” rating and issued a $178.00 target price on shares of Allergan in a research report on Thursday, August 8th. ValuEngine lowered shares of Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald increased their price target on shares of Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on shares of Allergan from $176.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Guggenheim cut shares of Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. Allergan currently has an average rating of “Hold” and an average price target of $175.90.

The stock’s 50 day moving average is $179.42 and its two-hundred day moving average is $160.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.00 and a quick ratio of 0.88. The stock has a market capitalization of $60.99 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.18 and a beta of 1.64.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $4.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $4.25. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Allergan plc will post 16.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 13th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.59%. Allergan’s payout ratio is 17.74%.

Several institutional investors have recently added to or reduced their stakes in AGN. Third Point LLC acquired a new stake in Allergan in the third quarter valued at $605,844,000. Nuveen Asset Management LLC increased its holdings in shares of Allergan by 1,665.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after acquiring an additional 2,928,846 shares during the last quarter. State Street Corp increased its holdings in shares of Allergan by 12.9% in the 3rd quarter. State Street Corp now owns 14,814,455 shares of the company’s stock valued at $2,493,128,000 after acquiring an additional 1,696,205 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Allergan by 415.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,777,375 shares of the company’s stock worth $299,114,000 after acquiring an additional 1,432,555 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Allergan during the 3rd quarter worth about $219,436,000. 81.93% of the stock is owned by institutional investors and hedge funds.

Allergan Company Profile (NYSE:AGN)

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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