Allergan (AGN) Cut to Hold at Vetr

Allergan (NYSE:AGN) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, January 10th. They currently have a $180.97 target price on the stock. Vetr‘s price target would indicate a potential upside of 1.29% from the company’s previous close.

Several other analysts also recently weighed in on AGN. Deutsche Bank reiterated a “buy” rating and issued a $262.00 price objective on shares of Allergan in a research report on Tuesday, September 12th. Morgan Stanley downgraded Allergan from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $284.00 to $228.00 in a report on Wednesday, September 20th. Citigroup restated a “buy” rating and set a $280.00 target price on shares of Allergan in a report on Wednesday, September 20th. Cantor Fitzgerald restated a “hold” rating and set a $231.00 target price on shares of Allergan in a report on Friday, September 22nd. Finally, Cowen restated an “outperform” rating and set a $400.00 target price on shares of Allergan in a report on Saturday, September 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $226.95.

Shares of Allergan (NYSE:AGN) opened at $178.66 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan has a 12-month low of $160.07 and a 12-month high of $256.80. The firm has a market capitalization of $58,550.00, a P/E ratio of -7.91, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $3.32 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. equities research analysts forecast that Allergan will post 16.27 EPS for the current fiscal year.

Allergan announced that its Board of Directors has authorized a stock buyback program on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, Chairman Brent L. Saunders purchased 4,600 shares of Allergan stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average cost of $164.74 per share, with a total value of $757,804.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin purchased 10,000 shares of Allergan stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Allergan by 2.2% in the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after acquiring an additional 482,220 shares during the last quarter. Northern Trust Corp grew its stake in shares of Allergan by 8.8% in the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after acquiring an additional 364,722 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Allergan by 24.3% in the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after acquiring an additional 869,248 shares during the last quarter. Baupost Group LLC MA grew its stake in shares of Allergan by 21.9% in the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after acquiring an additional 531,600 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of Allergan by 1.0% in the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after acquiring an additional 17,068 shares during the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

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Allergan Company Profile

Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Allergan (NYSE:AGN)

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