Allergan PLC. (AGN) Downgraded by Mizuho to “Neutral”

Mizuho downgraded shares of Allergan PLC. (NYSE:AGN) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning. Mizuho currently has $193.00 target price on the stock.

Other analysts also recently issued reports about the company. Deutsche Bank AG restated a buy rating and issued a $278.00 price target (up from $273.00) on shares of Allergan PLC. in a research note on Wednesday, August 9th. Credit Suisse Group set a $288.00 price target on Allergan PLC. and gave the company a buy rating in a research note on Saturday, August 5th. Royal Bank Of Canada set a $285.00 price target on Allergan PLC. and gave the company a buy rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Allergan PLC. from a hold rating to a buy rating and set a $270.00 target price on the stock in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Allergan PLC. from a hold rating to a buy rating in a research report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Allergan PLC. currently has a consensus rating of Hold and an average price target of $252.39.

Shares of Allergan PLC. (AGN) traded down 0.52% on Thursday, hitting $188.28. The stock had a trading volume of 4,755,555 shares. Allergan PLC. has a 12 month low of $182.80 and a 12 month high of $256.80. The firm has a 50 day moving average of $212.48 and a 200 day moving average of $230.71. The stock has a market cap of $62.94 billion, a P/E ratio of 5.74 and a beta of 1.15.

Allergan PLC. (NYSE:AGN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the business earned $3.35 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/10/20/allergan-plc-agn-downgraded-by-mizuho-to-neutral.html.

Allergan PLC. declared that its board has approved a stock buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in AGN. Veritas Asset Management LLP acquired a new position in Allergan PLC. in the first quarter valued at $761,339,000. Iridian Asset Management LLC CT increased its stake in Allergan PLC. by 141.3% in the first quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after purchasing an additional 751,848 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Allergan PLC. in the first quarter valued at $124,255,000. Vanguard Group Inc. increased its stake in 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 during the last quarter. Finally, Blue Ridge Capital L.L.C. increased its stake in Allergan PLC. by 24.1% in the first quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after purchasing an additional 370,400 shares during the last quarter. Hedge funds and other institutional investors own 81.94% of the company’s stock.

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.

Analyst Recommendations for Allergan PLC. (NYSE:AGN)

Receive News & Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply