Allergan PLC. (AGN) PT Lowered to $240.00 at Citigroup Inc.
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.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/22/allergan-plc-agn-pt-lowered-to-240-00-at-citigroup-inc.html.
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.
Receive News & Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related companies with MarketBeat.com's FREE daily email newsletter.