Allergan (AGN) Given a $214.00 Price Target by Credit Suisse Group Analysts
Credit Suisse Group set a $214.00 price target on Allergan (NYSE:AGN) in a research report report published on Tuesday. The brokerage currently has a buy rating on the stock. The analysts noted that the move was a valuation call.
AGN has been the subject of several other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 target price on shares of Allergan and gave the stock a buy rating in a research note on Sunday, October 22nd. Mizuho reaffirmed a buy rating and set a $267.00 target price on shares of Allergan in a research note on Monday, September 25th. BidaskClub lowered shares of Allergan from a sell rating to a strong sell rating in a research note on Friday, August 25th. Finally, Wells Fargo & Company reaffirmed an outperform rating and set a $258.00 target price on shares of Allergan in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $233.73.
Allergan (NYSE:AGN) opened at $169.57 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The firm has a market cap of $56,841.78, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. Allergan has a 12 month low of $160.07 and a 12 month high of $256.80.
Allergan declared that its board has approved a stock buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, November 16th. Allergan’s payout ratio is -12.44%.
In other news, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders bought 17,630 shares of company stock valued at $2,890,057. Insiders own 0.36% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Allergan by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after purchasing an additional 482,220 shares in the last quarter. Northern Trust Corp raised its holdings in Allergan by 8.8% during the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after purchasing an additional 364,722 shares in the last quarter. Edgewood Management LLC raised its holdings in Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after purchasing an additional 869,248 shares in the last quarter. Baupost Group LLC MA raised its holdings in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after purchasing an additional 531,600 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after purchasing an additional 17,068 shares in the last quarter. Institutional investors 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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