Allergan plc (AGN) Receives Outperform Rating from Sanford C. Bernstein
Allergan plc (NYSE:AGN)‘s stock had its “outperform” rating restated by equities researchers at Sanford C. Bernstein in a research note issued on Thursday.
Other equities research analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of Allergan plc from $279.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, May 10th. Goldman Sachs Group Inc lowered shares of Allergan plc from a “buy” rating to a “neutral” rating and set a $262.00 target price on the stock. in a report on Wednesday, May 10th. Citigroup Inc increased their target price on shares of Allergan plc to $261.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Deutsche Bank AG raised their price objective on shares of Allergan plc from $262.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th. Finally, Mizuho restated a “buy” rating and set a $275.00 price objective (up from $273.00) on shares of Allergan plc in a report on Tuesday, February 7th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Allergan plc has an average rating of “Buy” and an average target price of $267.21.
Allergan plc (NYSE:AGN) traded down 0.55% during trading on Thursday, reaching $223.12. 1,697,663 shares of the company’s stock traded hands. The firm’s 50 day moving average is $234.29 and its 200 day moving average is $223.27. The company has a market cap of $74.94 billion, a P/E ratio of 6.95 and a beta of 1.07. Allergan plc has a 12 month low of $184.50 and a 12 month high of $261.27. Allergan plc also saw unusually large options trading activity on Friday. Traders acquired 2,693 call options on the stock. This represents an increase of 318% compared to the average volume of 644 call options.
Allergan plc (NYSE:AGN) last posted its earnings results on Tuesday, May 9th. The company reported $3.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. Allergan plc had a net margin of 100.04% and a return on equity of 7.21%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. Analysts anticipate that Allergan plc will post $16.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, May 16th.
In related news, Director Paul Bisaro sold 70,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $246.68, for a total value of $17,267,600.00. Following the completion of the transaction, the director now owns 274,226 shares of the company’s stock, valued at $67,646,069.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nesli Basgoz sold 1,889 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $220.45, for a total transaction of $416,430.05. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baupost Group LLC MA increased its position in shares of Allergan plc by 71.5% in the fourth quarter. Baupost Group LLC MA now owns 3,432,603 shares of the company’s stock worth $720,881,000 after buying an additional 1,430,625 shares during the period. Swedbank increased its position in shares of Allergan plc by 0.6% in the third quarter. Swedbank now owns 645,371 shares of the company’s stock worth $148,635,000 after buying an additional 3,940 shares during the period. First Personal Financial Services increased its position in shares of Allergan plc by 22.7% in the third quarter. First Personal Financial Services now owns 17,175 shares of the company’s stock worth $3,956,000 after buying an additional 3,174 shares during the period. State Treasurer State of Michigan increased its position in shares of Allergan plc by 0.5% in the third quarter. State Treasurer State of Michigan now owns 138,152 shares of the company’s stock worth $31,818,000 after buying an additional 700 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in shares of Allergan plc by 2.7% in the third quarter. Clear Harbor Asset Management LLC now owns 7,369 shares of the company’s stock worth $1,697,000 after buying an additional 191 shares during the period. 86.40% of the stock is owned by institutional investors and hedge funds.
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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