Allergan (AGN) Downgraded by TheStreet to D+
Allergan (NYSE:AGN) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Monday.
AGN has been the topic of a number of other research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price target (down previously from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price target on Allergan and gave the stock a “buy” rating in a research report on Sunday, October 22nd. BidaskClub downgraded Allergan from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Mizuho reissued a “buy” rating and set a $267.00 price target on shares of Allergan in a research report on Monday, September 25th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $258.00 price target on shares of Allergan in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $244.47.
Shares of Allergan (AGN) opened at $164.28 on Monday. 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 52 week low of $160.07 and a 52 week high of $256.80. The firm has a market capitalization of $55,508.12, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11.
Allergan (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm posted $3.32 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. sell-side analysts expect that Allergan will post 16.28 EPS for the current year.
Allergan announced that its Board of Directors has authorized a share 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 buy up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Allergan news, insider William Meury sold 11,807 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average price of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AGN. Vanguard Group Inc. raised 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 purchasing an additional 482,220 shares during the last quarter. Northern Trust Corp raised 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 purchasing an additional 364,722 shares during the last quarter. Edgewood Management LLC raised 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 purchasing an additional 869,248 shares during the last quarter. Baupost Group LLC MA raised 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 purchasing an additional 531,600 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised 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 purchasing an additional 17,068 shares during the last quarter. Institutional investors own 81.34% of the company’s stock.
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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.
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