A number of other research firms have also recently commented on AGN. Morgan Stanley cut shares of Allergan PLC. from an overweight rating to an equal weight rating and cut their price target for the company from $284.00 to $228.00 in a report on Wednesday, September 20th. Cowen and Company reiterated an outperform rating and set a $400.00 price target on shares of Allergan PLC. in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Allergan PLC. from a hold rating to a buy rating and set a $270.00 price target on the stock in a report on Tuesday, July 11th. Deutsche Bank AG reiterated a buy rating and set a $262.00 price target on shares of Allergan PLC. in a report on Tuesday, September 12th. Finally, Cantor Fitzgerald reiterated a hold rating on shares of Allergan PLC. in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Allergan PLC. presently has a consensus rating of Buy and an average price target of $271.44.
Allergan PLC. (NYSE AGN) opened at 198.41 on Friday. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The firm’s 50-day moving average price is $215.75 and its 200-day moving average price is $231.93. The firm has a market cap of $66.33 billion, a P/E ratio of 6.05 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.35 earnings per share. Equities research analysts anticipate that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.
Allergan PLC. declared that its board has authorized a stock buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGN. Waldron LP bought a new position in Allergan PLC. in the first quarter worth approximately $348,000. Sawtooth Solutions LLC raised its position in Allergan PLC. by 82.0% in the first quarter. Sawtooth Solutions LLC now owns 4,101 shares of the company’s stock worth $980,000 after acquiring an additional 1,848 shares during the period. Holderness Investments Co. bought a new position in Allergan PLC. in the first quarter worth approximately $259,000. State of Wisconsin Investment Board raised its position in Allergan PLC. by 14.1% in the first quarter. State of Wisconsin Investment Board now owns 391,609 shares of the company’s stock worth $93,563,000 after acquiring an additional 48,248 shares during the period. Finally, United Bank raised its position in Allergan PLC. by 16.8% in the first quarter. United Bank now owns 5,429 shares of the company’s stock worth $1,297,000 after acquiring an additional 780 shares during the period. Institutional investors and hedge funds own 81.94% of the company’s stock.
About Allergan PLC.
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.
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