Allergan (AGN) Downgraded to D+ at TheStreet
A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald set a $191.00 price target on Allergan and gave the company a hold rating in a report on Saturday. Morgan Stanley raised Allergan from an equal weight rating to an overweight rating and raised their price target for the company from $171.92 to $200.00 in a report on Wednesday, November 29th. Leerink Swann restated an outperform rating and set a $237.00 price objective on shares of Allergan in a research report on Monday, November 27th. Wells Fargo & Company restated an outperform rating and set a $245.00 price objective (down previously from $258.00) on shares of Allergan in a research report on Thursday, November 2nd. Finally, Royal Bank Of Canada cut their price objective on Allergan from $250.00 to $221.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $244.47.
Shares of Allergan (NYSE:AGN) traded down $2.62 during trading on Monday, reaching $164.28. The company had a trading volume of 7,569,700 shares, compared to its average volume of 2,931,912. Allergan has a one year low of $160.07 and a one year high of $256.80. The company has a market cap of $55,508.12, a PE ratio of 10.82, a P/E/G ratio of 1.12 and a beta of 1.11. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the Zacks’ 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 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 period last year, the firm earned $3.32 earnings per share. equities research analysts anticipate that Allergan will post 16.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, November 16th. Allergan’s payout ratio is currently -12.44%.
Allergan announced that its Board of Directors 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 reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication 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 stock was purchased at an average price of $163.30 per share, with a total value of $1,633,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction that occurred on Friday, December 1st. The shares were 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 company insiders.
Several institutional investors have recently bought and sold shares of the company. AXA raised its stake in Allergan by 22.4% in the third quarter. AXA now owns 488,257 shares of the company’s stock worth $100,068,000 after buying an additional 89,257 shares in the last quarter. Shelton Capital Management raised its stake in Allergan by 35.4% in the third quarter. Shelton Capital Management now owns 4,117 shares of the company’s stock worth $844,000 after buying an additional 1,077 shares in the last quarter. Institutional & Family Asset Management LLC raised its stake in Allergan by 9.7% in the third quarter. Institutional & Family Asset Management LLC now owns 4,962 shares of the company’s stock worth $1,017,000 after buying an additional 438 shares in the last quarter. GSA Capital Partners LLP bought a new position in Allergan in the third quarter worth approximately $4,764,000. Finally, Pura Vida Investments LLC bought a new position in Allergan in the third quarter worth approximately $7,173,000. 81.34% of the stock is 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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