Cantor Fitzgerald Analysts Give Allergan (AGN) a $191.00 Price Target
Several other analysts have also recently commented on the company. Morgan Stanley raised Allergan from an equal weight rating to an overweight rating and raised their target price for the stock from $171.92 to $200.00 in a research report on Wednesday, November 29th. Leerink Swann reissued 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 reissued 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. Royal Bank Of Canada reduced 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. Finally, Zacks Investment Research raised Allergan from a sell rating to a hold rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Allergan currently has a consensus rating of Buy and an average target price of $244.47.
Shares of Allergan (NYSE AGN) opened at $166.90 on Friday. The company has a market capitalization of $56,520.00, a price-to-earnings ratio of 11.02, a PEG ratio of 1.14 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. Allergan has a 12-month low of $166.06 and a 12-month high of $256.80.
Allergan (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion during 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%. Allergan’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.32 earnings per share. research analysts expect that Allergan will post 16.28 EPS for the current year.
Allergan announced that its Board of Directors has authorized a share repurchase program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.68%. Allergan’s dividend payout ratio is currently -12.39%.
In other Allergan news, insider William Meury sold 11,807 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Honeywell International Inc. increased its stake in shares of Allergan by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after purchasing an additional 20,100 shares during the period. Peloton Wealth Strategists increased its stake in shares of Allergan by 37.1% in the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after purchasing an additional 2,835 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of Allergan by 39.0% in the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after purchasing an additional 4,244 shares during the period. Fairbanks Capital Management Inc. increased its stake in shares of Allergan by 1.3% in the second quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock worth $1,332,000 after purchasing an additional 70 shares during the period. Finally, Colony Group LLC increased its stake in shares of Allergan by 9.9% in the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after purchasing an additional 3,577 shares during the period. 81.34% of the stock is owned by 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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