Allergan PLC. (NYSE:AGN) had its price objective dropped by stock analysts at Cantor Fitzgerald to $191.00 in a research report issued on Thursday. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 7.77% from the stock’s previous close.
A number of other research firms also recently weighed in on AGN. Royal Bank Of Canada dropped their target price on Allergan PLC. from $250.00 to $221.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $245.00 price target (down from $258.00) on shares of Allergan PLC. in a research note on Thursday. UBS AG reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Allergan PLC. in a research note on Wednesday, August 9th. BidaskClub cut Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Argus reaffirmed a “buy” rating and issued a $280.00 price target on shares of Allergan PLC. in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Allergan PLC. presently has a consensus rating of “Hold” and an average target price of $248.20.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $3.32 EPS.
Allergan PLC. announced that its board has approved a stock buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Allergan PLC. by 2.2% in the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after purchasing an additional 482,220 shares in the last quarter. Northern Trust Corp grew its position in shares of Allergan PLC. by 8.8% in the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after purchasing an additional 364,722 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in shares of Allergan PLC. in the first quarter valued at approximately $761,339,000. Edgewood Management LLC grew its position in shares of Allergan PLC. by 7.0% in the first quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock valued at $646,090,000 after purchasing an additional 178,055 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Allergan PLC. by 3.8% in the first quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock valued at $481,045,000 after purchasing an additional 73,081 shares in the last quarter. Institutional investors own 82.02% 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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