Allergan plc (AGN) Receives $211.94 Average PT from Brokerages

Shares of Allergan plc (NYSE:AGN) have received a consensus recommendation of “Buy” from the twenty-six analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $211.94.

A number of brokerages recently issued reports on AGN. Cantor Fitzgerald set a $180.00 price objective on Allergan and gave the stock a “hold” rating in a report on Thursday, July 19th. ValuEngine cut Allergan from a “hold” rating to a “sell” rating in a report on Wednesday, October 31st. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Wednesday, October 31st. Raymond James dropped their price objective on Allergan from $232.00 to $198.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Finally, Credit Suisse Group set a $213.00 target price on Allergan and gave the stock a “buy” rating in a research note on Friday, July 13th.

In other news, Director Christopher J. Coughlin acquired 10,000 shares of Allergan stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph H. Boccuzi acquired 900 shares of Allergan stock in a transaction dated Thursday, August 30th. The shares were purchased at an average price of $190.59 per share, for a total transaction of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in Allergan during the 2nd quarter worth approximately $129,000. Gradient Investments LLC grew its position in Allergan by 747.5% during the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock worth $129,000 after acquiring an additional 598 shares during the last quarter. Kaizen Advisory LLC grew its position in Allergan by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock worth $138,000 after acquiring an additional 506 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Allergan by 3,193.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after acquiring an additional 958 shares during the last quarter. Finally, Aries Wealth Management bought a new position in Allergan during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.

AGN traded down $3.06 during trading on Monday, reaching $165.52. 2,039,730 shares of the company were exchanged, compared to its average volume of 2,414,899. The stock has a market capitalization of $57.21 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.78 and a current ratio of 0.92. Allergan has a 12-month low of $142.81 and a 12-month high of $197.00.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.15 EPS. On average, research analysts forecast that Allergan will post 16.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.74%. Allergan’s dividend payout ratio is currently 17.61%.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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