Allergan’s (AGN) “Buy” Rating Reiterated at Raymond James
Raymond James reaffirmed their buy rating on shares of Allergan (NYSE:AGN) in a research note issued to investors on Monday morning. They currently have a $232.00 target price on the stock, up from their prior target price of $211.00.
Several other research analysts also recently commented on the company. TheStreet raised Allergan from a d+ rating to a c rating in a report on Monday, August 20th. Morgan Stanley set a $202.00 target price on Allergan and gave the stock an overweight rating in a report on Thursday, August 23rd. Zacks Investment Research raised Allergan from a hold rating to a buy rating and set a $193.00 target price on the stock in a report on Tuesday, July 24th. Wells Fargo & Co reaffirmed a buy rating on shares of Allergan in a report on Tuesday, June 5th. Finally, Cantor Fitzgerald set a $180.00 target price on Allergan and gave the stock a hold rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. Allergan currently has a consensus rating of Buy and a consensus target price of $211.91.
Shares of AGN opened at $192.51 on Monday. The stock has a market cap of $63.16 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.43 and a beta of 1.21. Allergan has a 12 month low of $142.81 and a 12 month high of $217.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 1.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 17th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, August 16th. Allergan’s dividend payout ratio (DPR) is presently 17.61%.
In other Allergan news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was purchased at an average cost of $190.64 per share, with a total value of $1,906,400.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph H. Boccuzi acquired 900 shares of the stock in a transaction dated Thursday, August 30th. The stock was acquired at an average cost of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Parkside Investments LLC increased its position in Allergan by 1.8% in the 2nd quarter. Parkside Investments LLC now owns 15,845 shares of the company’s stock valued at $2,830,000 after buying an additional 275 shares in the last quarter. Avestar Capital LLC increased its position in Allergan by 25.1% in the 2nd quarter. Avestar Capital LLC now owns 1,483 shares of the company’s stock valued at $230,000 after buying an additional 298 shares in the last quarter. New Jersey Better Educational Savings Trust increased its position in Allergan by 9.4% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the company’s stock valued at $584,000 after buying an additional 300 shares in the last quarter. Parallel Advisors LLC increased its position in Allergan by 34.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,233 shares of the company’s stock valued at $205,000 after buying an additional 319 shares in the last quarter. Finally, Arvest Bank Trust Division increased its position in Allergan by 0.6% in the 1st quarter. Arvest Bank Trust Division now owns 56,243 shares of the company’s stock valued at $9,465,000 after buying an additional 333 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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