Allergan (AGN) Lowered to Buy at Vetr
Vetr cut shares of Allergan (NYSE:AGN) from a strong-buy rating to a buy rating in a report published on Wednesday morning. They currently have $187.73 target price on the stock.
Several other research analysts also recently commented on AGN. Wells Fargo & Company reiterated an outperform rating and set a $280.00 target price (up from $270.00) on shares of Allergan in a research note on Wednesday, August 9th. UBS reiterated an outperform rating and set a $275.00 target price on shares of Allergan in a research note on Wednesday, August 9th. Argus reiterated a buy rating and set a $280.00 target price on shares of Allergan in a research note on Monday, August 14th. BidaskClub downgraded Allergan from a buy rating to a hold rating in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $227.00 target price on Allergan and gave the stock a hold rating in a research note on Friday, October 13th. 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 has an average rating of Buy and a consensus price target of $235.25.
Allergan (AGN) traded up $3.72 during trading hours on Wednesday, hitting $168.00. The company’s stock had a trading volume of 3,660,200 shares, compared to its average volume of 2,935,009. The firm has a market cap of $54,636.75, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.10 and a beta of 1.11. Allergan has a 52-week low of $160.07 and a 52-week high of $256.80. 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 (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 EPS. equities research analysts forecast that Allergan will post 16.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.67%. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
Allergan announced that its board has initiated a stock buyback plan on Monday, September 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider William Meury sold 11,807 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Coughlin bought 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were bought 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. Insiders own 0.36% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in shares of Allergan during the 2nd quarter valued at $103,000. Cable Hill Partners LLC lifted its position in shares of Allergan by 255.2% during the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after acquiring an additional 370 shares during the period. Rockefeller Financial Services Inc. lifted its position in shares of Allergan by 283.7% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after acquiring an additional 400 shares during the period. Jacobi Capital Management LLC lifted its position in shares of Allergan by 4.9% during the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after acquiring an additional 22 shares during the period. Finally, Massey Quick & Co. LLC raised its holdings in shares of Allergan by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after buying an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.
WARNING: This piece was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://theolympiareport.com/2017/12/07/allergan-agn-lowered-to-buy-at-vetr.html.
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.
Receive News & Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related companies with Analyst Ratings Network's FREE daily email newsletter.