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.

Analyst Recommendations for Allergan (NYSE:AGN)

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