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.
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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.
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