Allergan PLC (NYSE:AGN) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Allergan PLC (NYSE:AGN) have received a consensus recommendation of “Buy” from the twenty-five ratings firms that are covering the company. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $296.35.
Several brokerages have issued reports on AGN. Credit Suisse Group AG began coverage on Allergan PLC in a report on Monday, July 25th. They issued an “outperform” rating and a $327.00 price target for the company. Zacks Investment Research downgraded Allergan PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 price target for the company. in a report on Monday, August 8th. Leerink Swann set a $294.00 price target on Allergan PLC and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, Royal Bank Of Canada lowered their price target on Allergan PLC from $307.00 to $300.00 and set an “outperform” rating for the company in a report on Tuesday, August 9th.
A number of institutional investors have recently bought and sold shares of the company. Veritas Asset Management LLP bought a new position in Allergan PLC during the second quarter worth approximately $492,177,000. Emerald Acquisition Ltd. bought a new position in Allergan PLC during the second quarter worth approximately $231,671,000. Appaloosa LP raised its position in Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock worth $291,360,000 after buying an additional 981,700 shares during the period. Thornburg Investment Management Inc. raised its position in Allergan PLC by 133.2% in the second quarter. Thornburg Investment Management Inc. now owns 1,717,844 shares of the company’s stock worth $396,977,000 after buying an additional 981,355 shares during the period. Finally, Eaton Vance Management raised its position in Allergan PLC by 112.8% in the second quarter. Eaton Vance Management now owns 1,713,711 shares of the company’s stock worth $396,021,000 after buying an additional 908,569 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.
Allergan PLC (NYSE:AGN) traded up 0.483% during midday trading on Friday, reaching $244.605. The company had a trading volume of 1,625,271 shares. Allergan PLC has a 52-week low of $195.50 and a 52-week high of $322.68. The company has a market cap of $96.85 billion, a PE ratio of 23.289 and a beta of 0.73. The company’s 50-day moving average is $244.93 and its 200 day moving average is $243.01.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.01. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the company earned $4.41 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Allergan PLC will post $14.01 EPS for the current year.
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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