Guggenheim Downgrades Allergan (NYSE:AGN) to Neutral

Guggenheim downgraded shares of Allergan (NYSE:AGN) from a buy rating to a neutral rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports.

Several other analysts also recently weighed in on the company. UBS Group dropped their price objective on Allergan from $173.00 to $172.00 and set a buy rating for the company in a research report on Thursday, May 9th. Sanford C. Bernstein downgraded Allergan from an outperform rating to a market perform rating and set a $166.08 price objective for the company. in a research report on Tuesday, July 16th. Wells Fargo & Co restated a buy rating on shares of Allergan in a research report on Tuesday, June 25th. Barclays upgraded Allergan from an underweight rating to an equal weight rating in a research report on Tuesday, June 25th. Finally, Leerink Swann downgraded Allergan from an outperform rating to a market perform rating and dropped their price objective for the stock from $217.00 to $188.00 in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $180.00.

NYSE:AGN opened at $159.84 on Wednesday. The firm’s fifty day moving average is $161.32. The company has a market cap of $52.40 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.63. The company has a current ratio of 1.69, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39. Allergan has a fifty-two week low of $114.27 and a fifty-two week high of $197.00.

Allergan (NYSE:AGN) last released its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.34 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.42 EPS. On average, analysts expect that Allergan will post 16.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th will be issued a $0.74 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.96 dividend on an annualized basis and a yield of 1.85%. Allergan’s payout ratio is presently 17.74%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wesbanco Bank Inc. increased its stake in shares of Allergan by 6.8% in the first quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock valued at $725,000 after buying an additional 316 shares during the period. Fulton Bank N.A. increased its stake in shares of Allergan by 19.9% in the second quarter. Fulton Bank N.A. now owns 14,220 shares of the company’s stock valued at $2,381,000 after buying an additional 2,360 shares during the period. Private Management Group Inc. increased its stake in shares of Allergan by 1.6% in the first quarter. Private Management Group Inc. now owns 262,314 shares of the company’s stock valued at $38,405,000 after buying an additional 4,158 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Allergan in the first quarter valued at about $233,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Allergan in the first quarter valued at about $452,000. 79.95% of the stock is owned by institutional investors and hedge funds.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Analyst Recommendations for Allergan (NYSE:AGN)

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