Allergan (AGN) PT Set at $191.00 by Cantor Fitzgerald
Several other analysts have also issued reports on the stock. Morgan Stanley raised shares of Allergan from an equal weight rating to an overweight rating and boosted their price target for the company from $171.92 to $200.00 in a research report on Wednesday, November 29th. Leerink Swann reissued an outperform rating and issued a $237.00 price target on shares of Allergan in a research report on Monday, November 27th. Wells Fargo & Company reissued an outperform rating and issued a $245.00 price target (down previously from $258.00) on shares of Allergan in a research report on Thursday, November 2nd. Royal Bank Of Canada lowered their price target on shares of Allergan from $250.00 to $221.00 and set an outperform rating on the stock in a research report on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Allergan from a sell rating to a hold rating in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $244.47.
Allergan (NYSE AGN) opened at $164.28 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The firm has a market cap of $55,508.12, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11. Allergan has a 52 week low of $160.07 and a 52 week high of $256.80.
Allergan (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $3.32 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. equities research analysts anticipate that Allergan will post 16.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
Allergan declared that its Board of Directors has approved a share buyback program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, with a total value of $1,633,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William Meury sold 11,807 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Honeywell International Inc. boosted its stake in shares of Allergan by 13.6% in the 2nd quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after purchasing an additional 20,100 shares in the last quarter. Peloton Wealth Strategists boosted its stake in shares of Allergan by 37.1% in the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after purchasing an additional 2,835 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Allergan by 39.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after purchasing an additional 4,244 shares in the last quarter. Fairbanks Capital Management Inc. boosted its stake in shares of Allergan by 1.3% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock valued at $1,332,000 after purchasing an additional 70 shares in the last quarter. Finally, Colony Group LLC boosted its stake in shares of Allergan by 9.9% in the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after purchasing an additional 3,577 shares in the last quarter. 81.34% of the stock is currently owned by hedge funds and other institutional investors.
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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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