Allergan PLC. (NYSE:AGN) had its target price reduced by equities research analysts at Citigroup Inc. from $280.00 to $240.00 in a report released on Thursday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s price target points to a potential upside of 27.47% from the stock’s previous close.

Several other brokerages also recently issued reports on AGN. Mizuho reiterated a “buy” rating and issued a $267.00 price target on shares of Allergan PLC. in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $285.00 price target on Allergan PLC. and gave the company a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company increased their price target on Allergan PLC. to $278.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $273.00 price target (up from $265.00) on shares of Allergan PLC. in a report on Monday, July 17th. Finally, Vetr upgraded Allergan PLC. from a “sell” rating to a “hold” rating and set a $242.88 price target for the company in a report on Monday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $252.39.

Allergan PLC. (NYSE:AGN) traded down 0.52% on Thursday, reaching $188.28. The company had a trading volume of 4,755,555 shares. The firm has a 50-day moving average of $211.30 and a 200-day moving average of $230.36. Allergan PLC. has a 12 month low of $182.80 and a 12 month high of $256.80. The stock has a market capitalization of $62.94 billion, a P/E ratio of 5.74 and a beta of 1.15.

Allergan PLC. (NYSE:AGN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the firm earned $3.35 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.

Allergan PLC. declared that its Board of Directors has initiated a share buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alta Capital Management LLC lifted its holdings in Allergan PLC. by 1.4% in the third quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock worth $33,074,000 after acquiring an additional 2,151 shares during the last quarter. Edge Wealth Management LLC lifted its holdings in Allergan PLC. by 328.1% in the third quarter. Edge Wealth Management LLC now owns 3,425 shares of the company’s stock worth $698,000 after acquiring an additional 2,625 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Allergan PLC. by 2.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 35,299 shares of the company’s stock worth $7,235,000 after acquiring an additional 951 shares during the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in Allergan PLC. by 11.2% in the third quarter. Honkamp Krueger Financial Services Inc. now owns 4,856 shares of the company’s stock worth $995,000 after acquiring an additional 490 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its holdings in Allergan PLC. by 87.2% in the third quarter. SeaBridge Investment Advisors LLC now owns 5,110 shares of the company’s stock worth $1,047,000 after acquiring an additional 2,381 shares during the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Allergan PLC. (NYSE:AGN)

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