Allergan (AGN) PT Set at $215.00 by Credit Suisse Group
AGN has been the topic of several other reports. Zacks Investment Research lowered shares of Allergan from a hold rating to a sell rating in a report on Tuesday, January 2nd. TheStreet lowered shares of Allergan from a c- rating to a d+ rating in a report on Monday, December 4th. Morgan Stanley set a $200.00 price objective on shares of Allergan and gave the company a buy rating in a report on Wednesday, December 6th. Deutsche Bank reissued a buy rating and set a $215.00 price objective on shares of Allergan in a report on Tuesday, January 9th. Finally, SunTrust Banks initiated coverage on shares of Allergan in a report on Friday, February 23rd. They set a buy rating and a $200.00 price objective on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $225.03.
Allergan (NYSE AGN) opened at $144.02 on Thursday. The stock has a market cap of $51,620.00, a P/E ratio of -12.01, a P/E/G ratio of 1.05 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.16. Allergan has a 1-year low of $143.10 and a 1-year high of $256.80.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be issued a $0.72 dividend. This is a positive change from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, February 27th. Allergan’s payout ratio is currently -24.02%.
In related news, CFO Matthew M. Walsh acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $160.94 per share, with a total value of $321,880.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Meury sold 58,879 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total transaction of $9,457,144.98. The disclosure for this sale can be found here. Insiders have bought 19,630 shares of company stock worth $3,211,937 over the last three months. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AGN. Edgewood Management LLC grew its holdings in shares of Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after buying an additional 869,248 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Allergan by 1,049.7% during the fourth quarter. Renaissance Technologies LLC now owns 726,269 shares of the company’s stock valued at $118,803,000 after buying an additional 663,100 shares during the last quarter. Baupost Group LLC MA grew its holdings in shares of Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after buying an additional 531,600 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Allergan by 4,852.6% during the third quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock valued at $103,108,000 after buying an additional 492,930 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Allergan by 277.7% during the fourth quarter. Millennium Management LLC now owns 651,755 shares of the company’s stock valued at $106,614,000 after buying an additional 479,174 shares during the last quarter. 79.66% of the stock is currently owned by hedge funds and other institutional investors.
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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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