Allergan PLC. (NYSE:AGN) had its price objective reduced by Morgan Stanley from $228.00 to $200.00 in a report released on Thursday, November 2nd. They currently have an equal weight rating on the stock.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $285.00 price objective on shares of Allergan PLC. in a research note on Wednesday, September 6th. Credit Suisse Group set a $243.00 price target on shares of Allergan PLC. and gave the company an outperform rating in a report on Tuesday, October 17th. Citigroup Inc. decreased their price objective on shares of Allergan PLC. from $280.00 to $240.00 and set a buy rating for the company in a report on Thursday, October 19th. Cantor Fitzgerald set a $231.00 price objective on shares of Allergan PLC. and gave the stock a hold rating in a report on Wednesday, November 1st. Finally, BidaskClub lowered shares of Allergan PLC. from a buy rating to a hold rating in a research note on Wednesday, August 9th. 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’s stock. The company has an average rating of Hold and a consensus target price of $246.73.
Allergan PLC. (NYSE:AGN) traded down $0.10 during midday trading on Thursday, hitting $171.72. 250,351 shares of the stock traded hands, compared to its average volume of 2,913,987. Allergan PLC. has a one year low of $169.61 and a one year high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $58,005.82, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.11 and a beta of 1.13.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $3.32 earnings per share. Allergan PLC.’s revenue for the quarter was up 11.4% on a year-over-year basis. equities research analysts expect that Allergan PLC. will post 16.28 earnings per share for the current fiscal year.
Allergan PLC. announced that its board has initiated a share buyback plan on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently -12.44%.
A number of hedge funds have recently bought and sold shares of AGN. Honeywell International Inc. boosted its position 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 during the period. Israel Discount Bank of New York acquired a new stake in Allergan PLC. during the first quarter valued at approximately $988,000. Sumitomo Life Insurance Co. raised its stake 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 in the last quarter. Colony Group LLC raised its stake 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 in the last quarter. Finally, Palladium Partners LLC raised its position in shares of Allergan PLC. by 1.7% during the 2nd quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock worth $7,575,000 after purchasing an additional 523 shares during the period. 81.21% of the stock is owned by hedge funds and other institutional investors.
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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