Allergan PLC. (NYSE:AGN) Stock Rating Reaffirmed by Wells Fargo & Company

Allergan PLC. (NYSE:AGN)‘s stock had its “outperform” rating reissued by research analysts at Wells Fargo & Company in a research report issued on Thursday, November 2nd, The Fly reports. They presently have a $245.00 target price on the stock, down from their previous target price of $258.00. Wells Fargo & Company’s price target points to a potential upside of 43.55% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a report on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $231.00 target price on shares of Allergan PLC. in a report on Friday, July 14th. Royal Bank Of Canada set a $284.00 price target on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Sunday, July 16th. Deutsche Bank AG reissued a “buy” rating and issued a $273.00 price target (up previously from $265.00) on shares of Allergan PLC. in a report on Monday, July 17th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $286.00 price target (up previously from $274.00) on shares of Allergan PLC. in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $246.73.

Allergan PLC. (AGN) traded down $0.45 on Thursday, hitting $170.67. 2,957,291 shares of the stock traded hands, compared to its average volume of 2,910,291. Allergan PLC. has a 1 year low of $169.61 and a 1 year high of $256.80. The stock has a market capitalization of $56,910.00, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.12. 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 PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the business earned $3.32 EPS. Allergan PLC.’s revenue for the quarter was up 11.4% on a year-over-year basis. equities analysts predict that Allergan PLC. will post 16.28 earnings per share for the current year.

Allergan PLC. declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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Large investors have recently bought and sold shares of the stock. Honeywell International Inc. lifted its stake in shares of Allergan PLC. by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after buying an additional 20,100 shares in the last quarter. Israel Discount Bank of New York purchased a new stake in Allergan PLC. during the first quarter valued at approximately $988,000. Sumitomo Life Insurance Co. increased its holdings in Allergan PLC. by 39.0% during the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after buying an additional 4,244 shares during the last quarter. Colony Group LLC increased its holdings in Allergan PLC. by 9.9% during the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after buying an additional 3,577 shares during the last quarter. Finally, Palladium Partners LLC increased its holdings in Allergan PLC. by 1.7% during the second quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock valued at $7,575,000 after buying an additional 523 shares during the last quarter. 81.65% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Allergan PLC. (NYSE:AGN)

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