Allergan’s (AGN) Buy Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co restated their buy rating on shares of Allergan (NYSE:AGN) in a report released on Wednesday, The Fly reports. The firm currently has a $176.00 target price on the stock, down from their previous target price of $188.00.

Several other research analysts have also recently issued reports on the company. Guggenheim cut Allergan from a buy rating to a neutral rating in a research report on Wednesday, August 7th. Cantor Fitzgerald increased their price objective on Allergan from $125.00 to $165.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Sanford C. Bernstein cut 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. Royal Bank of Canada reiterated a hold rating and issued a $178.00 price objective on shares of Allergan in a research report on Thursday, August 8th. Finally, ValuEngine cut Allergan from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $179.43.

NYSE:AGN opened at $158.25 on Wednesday. The stock has a fifty day moving average price of $163.21 and a two-hundred day moving average price of $145.59. The stock has a market capitalization of $51.28 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.61 and a beta of 1.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.03. Allergan has a 1 year low of $114.27 and a 1 year high of $197.00.

Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.34 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. Allergan’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.42 earnings per share. On average, analysts predict that Allergan will post 16.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, August 12th. Allergan’s payout ratio is currently 17.74%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC acquired a new stake in shares of Allergan during the second quarter valued at $25,000. Liberty Wealth Management LLC boosted its stake in shares of Allergan by 108.8% during the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Legacy Bridge LLC acquired a new stake in shares of Allergan during the first quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Allergan by 2,162.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Finally, Investors Research Corp acquired a new stake in shares of Allergan during the first quarter valued at $29,000. 77.81% of the stock is currently owned by institutional investors and hedge funds.

Allergan Company Profile

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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