Allergan PLC. (AGN) Stock Rating Reaffirmed by Barclays PLC
Allergan PLC. (NYSE:AGN)‘s stock had its “equal weight” rating reissued by investment analysts at Barclays PLC in a report issued on Monday.
AGN has been the topic of several other research reports. Cowen and Company set a $400.00 price target on shares of Allergan PLC. and gave the stock a “buy” rating in a research note on Thursday, June 8th. Mizuho cut their price objective on shares of Allergan PLC. from $275.00 to $267.00 and set a “buy” rating for the company in a research report on Friday, June 9th. Royal Bank Of Canada set a $284.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research report on Monday, June 12th. Cantor Fitzgerald initiated coverage on Allergan PLC. in a research note on Friday, June 16th. They issued a “neutral” rating and a $231.00 price objective for the company. Finally, BidaskClub upgraded Allergan PLC. from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $271.84.
Allergan PLC. (AGN) opened at 209.80 on Monday. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80. The stock has a 50 day moving average price of $220.20 and a 200 day moving average price of $233.72. The stock has a market capitalization of $70.14 billion, a PE ratio of 6.39 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last announced its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business posted $3.35 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Allergan PLC. will post $16.22 earnings per share for the current fiscal year.
Allergan PLC. announced that its board has approved a share repurchase program on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in AGN. Honeywell International Inc. increased its stake in Allergan PLC. by 13.6% in the 2nd quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after acquiring an additional 20,100 shares during the last quarter. Israel Discount Bank of New York bought a new position in shares of Allergan PLC. during the 1st quarter valued at approximately $988,000. Palladium Partners LLC boosted its position in shares of Allergan PLC. by 1.7% during the 2nd quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock valued at $7,575,000 after acquiring an additional 523 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Allergan PLC. during the 2nd quarter valued at approximately $41,345,000. Finally, Aviva PLC boosted its position in shares of Allergan PLC. by 2.4% during the 2nd quarter. Aviva PLC now owns 287,455 shares of the company’s stock valued at $69,892,000 after acquiring an additional 6,722 shares during the last quarter. 82.03% of the stock is owned by institutional investors.
Allergan PLC. 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.
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