Allergan (AGN) Earns Buy Rating from Deutsche Bank
Several other research firms have also commented on AGN. Citigroup reduced their price target on shares of Allergan to $215.00 and set a buy rating for the company in a research report on Tuesday. ValuEngine lowered shares of Allergan from a buy rating to a hold rating in a research report on Sunday, December 31st. Royal Bank of Canada set a $218.00 price target on shares of Allergan and gave the company a buy rating in a research report on Thursday, January 4th. Mizuho reaffirmed a buy rating and set a $267.00 price target on shares of Allergan in a research report on Monday, September 25th. Finally, Barclays reaffirmed an equal weight rating on shares of Allergan in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $226.95.
Allergan (AGN) traded down $1.07 on Tuesday, reaching $176.05. 2,802,192 shares of the company’s stock traded hands, compared to its average volume of 2,980,000. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The company has a market cap of $58,910.00, a PE ratio of -7.79, a P/E/G ratio of 1.27 and a beta of 1.11. Allergan has a 1-year low of $160.07 and a 1-year high of $256.80.
Allergan (NYSE:AGN) last posted its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.32 EPS. research analysts forecast that Allergan will post 16.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, November 16th. Allergan’s dividend payout ratio is -12.39%.
Allergan announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider William Meury sold 11,807 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chris W. Bodine purchased 3,030 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was acquired at an average price of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders purchased a total of 17,630 shares of company stock valued at $2,890,057 over the last three months. 0.36% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Howard Hughes Medical Institute bought a new position in Allergan in the 2nd quarter worth approximately $103,000. Cable Hill Partners LLC boosted its stake in Allergan by 255.2% in the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 370 shares during the period. Rockefeller Financial Services Inc. boosted its stake in Allergan by 283.7% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after purchasing an additional 400 shares during the period. Massey Quick & Co. LLC boosted its stake in Allergan by 334.8% in the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares during the period. Finally, Pacific Center for Financial Services boosted its stake in Allergan by 1.3% in the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 81.14% 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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