Allergan (AGN) Given New $202.00 Price Target at Credit Suisse Group

Allergan (NYSE:AGN) had its target price lowered by Credit Suisse Group from $213.00 to $202.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co set a $240.00 price target on Allergan and gave the company a buy rating in a report on Thursday, July 19th. Zacks Investment Research raised Allergan from a hold rating to a buy rating and set a $197.00 price target on the stock in a report on Tuesday, July 17th. Mizuho raised Allergan from a neutral rating to a buy rating in a report on Friday, August 3rd. Deutsche Bank set a $210.00 price target on Allergan and gave the company a buy rating in a report on Wednesday, September 12th. Finally, Raymond James reaffirmed a buy rating and issued a $232.00 target price (up from $211.00) on shares of Allergan in a report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $210.18.

NYSE AGN opened at $163.05 on Wednesday. The firm has a market cap of $55.35 billion, a PE ratio of 9.44, a PEG ratio of 1.29 and a beta of 1.31. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. Allergan has a 1-year low of $142.81 and a 1-year high of $197.00.

Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.15 EPS. As a group, analysts forecast that Allergan will post 16.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.77%. Allergan’s dividend payout ratio is currently 17.61%.

In other Allergan news, Director Christopher J. Coughlin purchased 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph H. Boccuzi purchased 900 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC purchased a new stake in Allergan in the 2nd quarter worth $129,000. Gradient Investments LLC increased its stake in Allergan by 747.5% in the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock worth $129,000 after buying an additional 598 shares in the last quarter. Kaizen Advisory LLC increased its stake in Allergan by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock worth $138,000 after buying an additional 506 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Allergan by 3,193.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after buying an additional 958 shares in the last quarter. Finally, Aries Wealth Management purchased a new stake in Allergan in the 2nd quarter worth $202,000. Institutional investors and hedge funds own 77.58% of the company’s stock.

Allergan Company Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Analyst Recommendations for Allergan (NYSE:AGN)

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