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Actavis plc (NYSE:ACT) shares hit a new 52-week high during trading on Wednesday , American Banking News reports. The company traded as high as $230.86 and last traded at $227.74, with a volume of 592,753 shares changing hands. The stock had previously closed at $229.07.

ACT has been the subject of a number of recent research reports. Analysts at Argus downgraded shares of Actavis plc to a “buy” rating in a research note on Tuesday, August 12th. They now have a $202.72 price target on the stock, down previously from $255.00. Separately, analysts at Leerink Swann reiterated an “outperform” rating on shares of Actavis plc in a research note on Thursday, August 7th. They now have a $260.00 price target on the stock, down previously from $269.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Actavis plc in a research note on Wednesday, August 6th. They now have a $225.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $233.60.

The stock has a 50-day moving average of $217.3 and a 200-day moving average of $211.9. The company has a market cap of $60.279 billion and a price-to-earnings ratio of 601.23.

Actavis plc (NYSE:ACT) last announced its earnings results on Tuesday, August 5th. The company reported $3.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.36 by $0.06. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. The company’s quarterly revenue was up 34.0% on a year-over-year basis. On average, analysts predict that Actavis plc will post $13.26 earnings per share for the current fiscal year.

Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.

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