Allergan (AGN) Given a $250.00 Price Target by UBS Group Analysts
UBS Group set a $250.00 target price on Allergan (NYSE:AGN) in a report published on Wednesday, www.tipranks.com reports. The brokerage currently has a buy rating on the stock.
A number of other research analysts have also recently commented on AGN. Deutsche Bank restated a buy rating and set a $262.00 price objective on shares of Allergan in a research note on Tuesday, September 12th. Morgan Stanley cut Allergan from an overweight rating to an equal weight rating and reduced their price objective for the stock from $284.00 to $228.00 in a research note on Wednesday, September 20th. Citigroup restated a buy rating and set a $280.00 price objective on shares of Allergan in a research note on Wednesday, September 20th. Cantor Fitzgerald restated a hold rating and set a $231.00 price objective on shares of Allergan in a research note on Friday, September 22nd. Finally, Cowen restated an outperform rating and set a $400.00 price objective on shares of Allergan in a research note on Saturday, September 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $226.95.
Allergan (NYSE:AGN) traded up $3.13 during mid-day trading on Wednesday, reaching $177.12. The company’s stock had a trading volume of 2,007,200 shares, compared to its average volume of 3,020,000. Allergan has a 1 year low of $160.07 and a 1 year high of $256.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The stock has a market capitalization of $57,870.00, a P/E ratio of -7.84, a PEG ratio of 1.18 and a beta of 1.11.
Allergan declared that its board has approved a stock buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is -12.39%.
In related 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Chris W. Bodine purchased 3,030 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was acquired at an average price of $164.77 per share, for a total transaction of $499,253.10. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,630 shares of company stock worth $2,890,057. Insiders own 0.36% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new stake in Allergan during the second quarter valued at approximately $103,000. Cable Hill Partners LLC raised its stake in Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after buying an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after buying an additional 400 shares in the last quarter. Massey Quick & Co. LLC raised its stake in Allergan by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after buying an additional 385 shares in the last quarter. Finally, Pacific Center for Financial Services raised its stake in Allergan by 1.3% during the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock valued at $132,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 81.14% 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.
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