Leerink Swann Equities Analysts Raise Earnings Estimates for Allergan plc (AGN)
Allergan plc (NYSE:AGN) – Equities researchers at Leerink Swann lifted their Q2 2018 earnings estimates for Allergan in a research report issued to clients and investors on Wednesday. Leerink Swann analyst S. Fernandez now forecasts that the company will earn $3.91 per share for the quarter, up from their previous forecast of $3.79. Leerink Swann currently has a “Outperform” rating and a $242.00 target price on the stock. Leerink Swann also issued estimates for Allergan’s Q4 2018 earnings at $4.10 EPS.
Several other equities analysts also recently commented on AGN. Bank of America increased their price objective on shares of Allergan from $208.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Credit Suisse Group increased their price objective on shares of Allergan from $214.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Vetr raised shares of Allergan from a “hold” rating to a “buy” rating and set a $189.60 price objective for the company in a research note on Thursday, February 1st. ValuEngine downgraded shares of Allergan from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $191.00 price objective on shares of Allergan in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $227.23.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.12. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.28%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $3.90 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the company. Cable Hill Partners LLC increased its position in shares of Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after buying an additional 370 shares during the period. Rockefeller Financial Services Inc. increased its position in shares of Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after buying an additional 400 shares during the period. BB&T Investment Services Inc. increased its position in shares of Allergan by 1,308.2% during the third quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock worth $139,000 after buying an additional 641 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Allergan during the second quarter worth $150,000. Finally, Acropolis Investment Management LLC acquired a new stake in shares of Allergan during the fourth quarter worth $153,000. 80.23% of the stock is owned by hedge funds and other institutional investors.
In other Allergan news, Chairman Brent L. Saunders purchased 4,600 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average price of $164.74 per share, with a total value of $757,804.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chris W. Bodine purchased 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were acquired at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders have bought 17,630 shares of company stock valued at $2,890,057 in the last ninety days. Insiders own 0.36% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.77%. This is an increase from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio (DPR) is presently -23.35%.
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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