Wells Fargo & Company Reiterates “Outperform” Rating for Allergan PLC. (AGN)

Wells Fargo & Company reiterated their outperform rating on shares of Allergan PLC. (NYSE:AGN) in a report released on Wednesday. The brokerage currently has a $280.00 price target on the stock, up from their prior price target of $270.00.

Several other analysts also recently issued reports on AGN. Royal Bank Of Canada set a $279.00 price target on Allergan PLC. and gave the company a buy rating in a research note on Wednesday, April 12th. Citigroup Inc. restated a focus list rating and issued a $261.27 price target (up from $184.50) on shares of Allergan PLC. in a research note on Friday, April 21st. Goldman Sachs Group, Inc. (The) downgraded Allergan PLC. from a buy rating to a neutral rating and set a $262.00 price target for the company. in a research note on Wednesday, May 10th. UBS AG restated a buy rating and issued a $275.00 price target on shares of Allergan PLC. in a research note on Monday, May 15th. Finally, Sanford C. Bernstein reiterated an outperform rating on shares of Allergan PLC. in a research report on Thursday, May 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $274.49.

Shares of Allergan PLC. (NYSE:AGN) opened at 232.88 on Wednesday. The company has a market capitalization of $77.85 billion, a PE ratio of 7.10 and a beta of 1.16. Allergan PLC. has a 52-week low of $184.50 and a 52-week high of $256.80. The stock has a 50 day moving average price of $245.93 and a 200 day moving average price of $238.13.

Allergan PLC. (NYSE:AGN) last issued its earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the company posted $3.35 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts predict that Allergan PLC. will post $16.27 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.20%. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.

In other Allergan PLC. news, Director Nesli Basgoz sold 1,889 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $220.45, for a total transaction of $416,430.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Manning & Napier Advisors LLC raised its stake in shares of Allergan PLC. by 21.3% in the first quarter. Manning & Napier Advisors LLC now owns 11,980 shares of the company’s stock worth $2,862,000 after buying an additional 2,100 shares during the last quarter. Charter Trust Co. bought a new position in Allergan PLC. during the first quarter valued at approximately $213,000. Daiwa SB Investments Ltd. bought a new position in Allergan PLC. during the first quarter valued at approximately $3,880,000. First National Bank of Omaha increased its position in Allergan PLC. by 1.6% in the first quarter. First National Bank of Omaha now owns 50,780 shares of the company’s stock valued at $12,132,000 after buying an additional 800 shares during the period. Finally, Verde Servicos Internacionais S.A. increased its position in Allergan PLC. by 22.0% in the first quarter. Verde Servicos Internacionais S.A. now owns 101,977 shares of the company’s stock valued at $24,364,000 after buying an additional 18,387 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.

Allergan PLC. Company Profile

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)

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