Vetr Downgrades Allergan (AGN) to Buy
Vetr downgraded shares of Allergan (NYSE:AGN) from a strong-buy rating to a buy rating in a research note published on Wednesday morning. The firm currently has $187.73 price target on the stock.
A number of other brokerages have also recently issued reports on AGN. Royal Bank Of Canada reiterated a buy rating and set a $285.00 target price on shares of Allergan in a research report on Wednesday, September 6th. Credit Suisse Group set a $243.00 target price on shares of Allergan and gave the stock an outperform rating in a research report on Tuesday, October 17th. Citigroup decreased their price objective on shares of Allergan from $280.00 to $240.00 and set a buy rating on the stock in a report on Thursday, October 19th. Cantor Fitzgerald set a $231.00 price objective on shares of Allergan and gave the stock a hold rating in a report on Wednesday, November 1st. Finally, BidaskClub lowered shares of Allergan from a buy rating to a hold rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Allergan presently has an average rating of Buy and a consensus target price of $235.25.
Shares of Allergan (NYSE:AGN) opened at $167.80 on Wednesday. The stock has a market cap of $55,807.43, a PE ratio of 10.88, 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 has a 1 year low of $160.07 and a 1 year high of $256.80.
Allergan (NYSE:AGN) last announced its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $3.32 EPS. analysts expect that Allergan will post 16.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
Allergan declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Allergan news, Director Christopher J. Coughlin bought 10,000 shares of Allergan stock in a transaction dated Tuesday, December 5th. The shares were bought at an average price of $163.30 per share, with a total value of $1,633,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Brent L. Saunders purchased 4,600 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $164.74 per share, for a total transaction of $757,804.00. The disclosure for this purchase can be found here. Insiders bought a total of 17,630 shares of company stock worth $2,890,057 in the last ninety days. Insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. AXA raised its position in shares of Allergan by 22.4% in the 3rd quarter. AXA now owns 488,257 shares of the company’s stock valued at $100,068,000 after acquiring an additional 89,257 shares during the period. Shelton Capital Management raised its holdings in Allergan by 35.4% during the 3rd quarter. Shelton Capital Management now owns 4,117 shares of the company’s stock worth $844,000 after buying an additional 1,077 shares during the period. Institutional & Family Asset Management LLC raised its holdings in Allergan by 9.7% during the 3rd 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 during the period. GSA Capital Partners LLP acquired a new stake in Allergan during the 3rd quarter worth approximately $4,764,000. Finally, Pura Vida Investments LLC acquired a new stake in Allergan during the 3rd quarter worth approximately $7,173,000. Institutional investors and hedge funds own 81.34% 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.
To view Vetr’s full report, visit Vetr’s official website.
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