ISI Group Initiates Coverage on Actavis plc (ACT)
Actavis plc (NYSE:ACT) traded up 0.57% during mid-day trading on Thursday, hitting $229.86. 1,794,671 shares of the company’s stock traded hands. Actavis plc has a 52-week low of $134.75 and a 52-week high of $230.86. The stock has a 50-day moving average of $217.4 and a 200-day moving average of $212.1. The company has a market cap of $60.743 billion and a price-to-earnings ratio of 599.87.
Actavis plc (NYSE:ACT) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $3.42 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter 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.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Actavis plc in a research note on Thursday. They now have a $266.00 price target on the stock, up previously from $246.00. Separately, analysts at Sterne Agee raised their price target on shares of Actavis plc from $255.00 to $272.00 in a research note on Thursday. Finally, 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. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $235.21.
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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