Allergan PLC (AGN) Cut to “Buy” at Vetr Inc.
Several other brokerages also recently weighed in on AGN. JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the stock a buy rating in a research note on Friday, August 5th. Mizuho boosted their target price on Allergan PLC from $232.00 to $246.00 and gave the stock a neutral rating in a research note on Friday, August 5th. RBC Capital Markets restated an outperform rating and set a $300.00 target price (down from $307.00) on shares of Allergan PLC in a research note on Wednesday, August 10th. Credit Suisse Group AG set a $322.00 price target on Allergan PLC and gave the stock a hold rating in a research report on Wednesday, August 3rd. Finally, Leerink Swann lifted their price target on Allergan PLC from $272.00 to $294.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Allergan PLC presently has a consensus rating of Buy and an average target price of $290.07.
Shares of Allergan PLC (NYSE:AGN) opened at 207.57 on Wednesday. Allergan PLC has a 52-week low of $186.34 and a 52-week high of $322.68. The stock has a market cap of $77.86 billion, a PE ratio of 5.82 and a beta of 1.08. The company’s 50 day moving average price is $223.79 and its 200 day moving average price is $234.52.
Allergan PLC (NYSE:AGN) last announced its earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.65 by $0.33. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the firm earned $3.48 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Allergan PLC will post $13.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.70 per share. This is a positive change from Allergan PLC’s previous quarterly dividend of $0.05. This represents a $2.80 annualized dividend and a dividend yield of 1.35%.
Institutional investors have recently modified their holdings of the company. Barnett & Company Inc. purchased a new position in shares of Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Allergan PLC during the second quarter valued at about $125,000. Trust Co. of Vermont raised its position in shares of Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares during the last quarter. Carroll Financial Associates Inc. raised its position in shares of Allergan PLC by 68.7% in the third quarter. Carroll Financial Associates Inc. now owns 555 shares of the company’s stock valued at $127,000 after buying an additional 226 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.
About Allergan PLC
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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