Morgan Stanley downgraded shares of Allergan PLC. (NYSE:AGN) from an overweight rating to an equal weight rating in a research report released on Wednesday. The brokerage currently has $228.00 price target on the stock, down from their previous price target of $284.00.
AGN has been the subject of several other reports. Cowen and Company set a $400.00 price objective on Allergan PLC. and gave the stock a buy rating in a research note on Thursday, June 8th. Sanford C. Bernstein restated an outperform rating on shares of Allergan PLC. in a research report on Thursday, May 25th. Mizuho decreased their target price on Allergan PLC. from $275.00 to $267.00 and set a buy rating on the stock in a research report on Friday, June 9th. Royal Bank Of Canada restated a buy rating and issued a $285.00 target price on shares of Allergan PLC. in a research report on Wednesday, September 6th. Finally, Cantor Fitzgerald assumed coverage on Allergan PLC. in a research report on Friday, June 16th. They issued a neutral rating and a $231.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Allergan PLC. currently has a consensus rating of Buy and an average target price of $273.34.
Shares of Allergan PLC. (NYSE AGN) traded down 2.50% on Wednesday, reaching $204.76. 700,746 shares of the company traded hands. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80. The company has a market capitalization of $68.45 billion, a PE ratio of 6.24 and a beta of 1.18. The firm has a 50-day moving average price of $229.79 and a 200 day moving average price of $236.07.
Allergan PLC. (NYSE:AGN) last released its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.95 by $0.07. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 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 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.35 EPS. Equities analysts forecast that Allergan PLC. will post $16.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.33%. Allergan PLC.’s dividend payout ratio is presently 9.95%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Allergan PLC. by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after buying an additional 482,220 shares during the last quarter. Northern Trust Corp increased its stake in shares of Allergan PLC. by 8.8% during the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after acquiring an additional 364,722 shares during the period. Veritas Asset Management LLP acquired a new position in shares of Allergan PLC. during the first quarter valued at approximately $761,339,000. Edgewood Management LLC increased its stake in shares of Allergan PLC. by 7.0% during the first quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock valued at $646,090,000 after acquiring an additional 178,055 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in shares of Allergan PLC. by 3.8% during the first quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock valued at $481,045,000 after acquiring an additional 73,081 shares during the period. 82.02% of the stock is currently owned by hedge funds and other institutional investors.
About Allergan PLC.
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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