Allergan PLC (AGN) Downgraded by Cantor Fitzgerald
Allergan PLC (NYSE:AGN) was downgraded by equities researchers at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Allergan PLC in a research report on Wednesday, July 6th. Leerink Swann lifted their target price on Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 target price on Allergan PLC and gave the stock a “buy” rating in a report on Friday, August 5th. Zacks Investment Research downgraded Allergan PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Vetr upgraded Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 target price for the company in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $308.54.
Allergan PLC (NYSE:AGN) traded down 1.40% during midday trading on Wednesday, hitting $235.33. The stock had a trading volume of 2,375,234 shares. The stock has a market capitalization of $93.18 billion, a PE ratio of 22.41 and a beta of 0.73. Allergan PLC has a 1-year low of $195.50 and a 1-year high of $322.68. The stock’s 50-day moving average is $245.54 and its 200-day moving average is $243.04.
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Allergan PLC (NYSE:AGN) last issued its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.01. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $4.41 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Allergan PLC will post $14.01 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Barnett & Company Inc. purchased a new stake in shares of Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Allergan PLC during the second quarter worth about $125,000. Trust Co. of Vermont raised its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock worth $126,000 after buying an additional 89 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock worth $133,000 after buying an additional 58 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock worth $137,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
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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