Q3 2016 EPS Estimates for Allergan PLC (AGN) Cut by Analyst
Allergan PLC (NYSE:AGN) – Research analysts at Leerink Swann decreased their Q3 2016 earnings per share estimates for Allergan PLC in a research report issued on Friday. Leerink Swann analyst J. Gerberry now anticipates that the firm will earn $3.55 per share for the quarter, down from their prior estimate of $3.57. Leerink Swann currently has a “Buy” rating and a $294.00 target price on the stock. Leerink Swann also issued estimates for Allergan PLC’s Q4 2016 earnings at $4.10 EPS and FY2016 earnings at $13.97 EPS.
Allergan PLC (NYSE:AGN) last announced its earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. The company earned $3.68 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. Allergan PLC’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.41 earnings per share.
Other equities analysts have also recently issued reports about the company. Vetr cut Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $276.34 target price on the stock. in a report on Tuesday, August 2nd. Bank of America Corp. reiterated a “buy” rating and issued a $294.00 target price (up from $287.00) on shares of Allergan PLC in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Allergan PLC in a report on Wednesday, July 6th. Zacks Investment Research upgraded Allergan PLC from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. set a $325.00 price objective on Allergan PLC and gave the company a “buy” rating in a research note on Friday, August 5th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $302.23.
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Shares of Allergan PLC (NYSE:AGN) opened at 227.55 on Monday. The company has a market cap of $90.10 billion, a PE ratio of 21.67 and a beta of 0.81. Allergan PLC has a 12 month low of $195.50 and a 12 month high of $322.68. The stock has a 50 day moving average of $238.01 and a 200-day moving average of $238.04.
Several hedge funds have recently modified their holdings of the stock. Veritas Asset Management LLP purchased a new stake in Allergan PLC during the second quarter worth $492,177,000. Emerald Acquisition Ltd. purchased a new stake in Allergan PLC during the second quarter worth $231,671,000. Appaloosa LP increased its stake in Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock worth $291,360,000 after buying an additional 981,700 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in Allergan PLC by 133.2% in the second quarter. Thornburg Investment Management Inc. now owns 1,717,844 shares of the company’s stock worth $396,977,000 after buying an additional 981,355 shares during the last quarter. Finally, Eaton Vance Management increased its stake in Allergan PLC by 112.8% in the second quarter. Eaton Vance Management now owns 1,713,711 shares of the company’s stock worth $396,021,000 after buying an additional 908,569 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.
About Allergan PLC
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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