Piper Jaffray Companies set a $227.00 price objective on Allergan PLC. (NYSE:AGN) in a research note issued to investors on Friday, October 6th. The brokerage currently has a hold rating on the stock.
Several other analysts also recently commented on AGN. Wells Fargo & Company reiterated a buy rating on shares of Allergan PLC. in a research note on Monday, October 2nd. Barclays PLC reiterated an equal weight rating on shares of Allergan PLC. in a research note on Monday, October 2nd. UBS AG reissued a buy rating and set a $275.00 price target on shares of Allergan PLC. in a report on Tuesday, September 26th. Credit Suisse Group reissued an outperform rating and set a $266.00 price target (down from $286.00) on shares of Allergan PLC. in a report on Tuesday, September 26th. Finally, Mizuho reissued a buy rating and set a $267.00 price target on shares of Allergan PLC. in a report on Monday, September 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $267.84.
Allergan PLC. (NYSE AGN) opened at 197.78 on Friday. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80. The stock has a market cap of $66.12 billion, a PE ratio of 6.03 and a beta of 1.15. The company’s 50 day moving average price is $215.75 and its 200 day moving average price is $231.93.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.07. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.35 EPS. Equities analysts forecast that Allergan PLC. will post $16.20 EPS for the current fiscal year.
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Allergan PLC. declared that its Board of Directors has initiated a stock buyback plan on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently made changes to their positions in AGN. Veritas Asset Management LLP purchased a new position in shares of Allergan PLC. during the first quarter valued at approximately $761,339,000. Iridian Asset Management LLC CT raised its stake in shares of Allergan PLC. by 141.3% during the first quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after acquiring an additional 751,848 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Allergan PLC. during the first quarter valued at approximately $124,255,000. Vanguard Group Inc. raised its stake in shares of Allergan PLC. by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after acquiring an additional 482,220 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. raised its stake in shares of Allergan PLC. by 24.1% during the first quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after acquiring an additional 370,400 shares in the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
Allergan PLC. 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.
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