Allergan plc (NYSE:AGN) – Research analysts at Gabelli decreased their FY2018 earnings per share estimates for shares of Allergan in a report issued on Wednesday. Gabelli analyst K. Kedra now forecasts that the company will post earnings per share of $15.95 for the year, down from their previous forecast of $16.20. Gabelli also issued estimates for Allergan’s FY2019 earnings at $16.75 EPS and FY2020 earnings at $18.95 EPS.
Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Allergan from a “buy” rating to a “hold” rating and set a $180.97 price target for the company. in a research report on Wednesday. Piper Jaffray Companies set a $227.00 price target on shares of Allergan and gave the company a “hold” rating in a research report on Friday, October 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective (down previously from $277.00) on shares of Allergan in a research note on Thursday, October 19th. They noted that the move was a valuation call. Leerink Swann reiterated an “outperform” rating and issued a $237.00 price objective on shares of Allergan in a research note on Monday, November 27th. Finally, UBS Group reiterated a “buy” rating and issued a $275.00 price objective on shares of Allergan in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $226.95.
Shares of Allergan (AGN) opened at $176.05 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The company has a market cap of $58,551.24, a P/E ratio of -7.82, a P/E/G ratio of 1.26 and a beta of 1.11. Allergan has a 12-month low of $160.07 and a 12-month high of $256.80.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.32 EPS.
Allergan declared that its board has initiated a share repurchase plan on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.59%. Allergan’s dividend payout ratio (DPR) is -12.44%.
In other news, insider William Meury sold 11,807 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of AGN. Beach Investment Management LLC. grew its stake in Allergan by 845.2% in the 2nd quarter. Beach Investment Management LLC. now owns 93,195 shares of the company’s stock valued at $22,655,000 after buying an additional 83,335 shares during the last quarter. Aviva PLC grew its stake in Allergan by 2.4% in the 2nd quarter. Aviva PLC now owns 287,455 shares of the company’s stock valued at $69,892,000 after buying an additional 6,722 shares during the last quarter. ProVise Management Group LLC grew its stake in Allergan by 16.0% in the 2nd quarter. ProVise Management Group LLC now owns 4,888 shares of the company’s stock valued at $1,188,000 after buying an additional 673 shares during the last quarter. Point View Wealth Management Inc. grew its stake in Allergan by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 4,711 shares of the company’s stock valued at $1,145,000 after buying an additional 56 shares during the last quarter. Finally, Geneva Advisors LLC grew its stake in Allergan by 37.0% in the 2nd quarter. Geneva Advisors LLC now owns 43,273 shares of the company’s stock valued at $10,519,000 after buying an additional 11,679 shares during the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.
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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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