Allergan PLC (NYSE:AGN) – Stock analysts at Leerink Swann reduced their Q3 2016 EPS estimates for Allergan PLC in a research note issued on Friday. Leerink Swann analyst J. Gerberry now forecasts that the firm will earn $3.55 per share for the quarter, down from their prior forecast of $3.57. Leerink Swann has a “Buy” rating and a $294.00 price objective on the stock. Leerink Swann also issued estimates for Allergan PLC’s Q4 2016 earnings at $4.10 EPS and FY2016 earnings at $13.97 EPS.
Allergan PLC (NYSE:AGN) last released its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The company earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the business earned $4.41 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis.
AGN has been the topic of a number of other research reports. Mizuho lowered their target price on shares of Allergan PLC from $305.00 to $299.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $288.87 price objective for the company in a research report on Monday, August 22nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Allergan PLC in a research report on Tuesday, September 27th. Argus reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Allergan PLC in a research report on Tuesday, October 4th. Finally, Bank of America Corp. set a $294.00 price objective on shares of Allergan PLC and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $302.23.
Shares of Allergan PLC (NYSE:AGN) opened at 227.94 on Monday. The stock has a 50 day moving average of $237.35 and a 200-day moving average of $237.14. Allergan PLC has a 52-week low of $195.50 and a 52-week high of $322.68. The firm has a market capitalization of $90.25 billion, a P/E ratio of 21.70 and a beta of 0.81.
A number of hedge funds have recently modified their holdings of the company. Veritas Asset Management LLP acquired a new stake in shares of Allergan PLC during the second quarter worth about $492,177,000. Emerald Acquisition Ltd. acquired a new stake in shares of Allergan PLC during the second quarter worth about $231,671,000. Appaloosa LP raised its stake in shares of Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock worth $291,360,000 after buying an additional 981,700 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of Allergan PLC by 133.2% in the second quarter. Thornburg Investment Management Inc. now owns 1,717,844 shares of the company’s stock worth $396,977,000 after buying an additional 981,355 shares during the period. Finally, Eaton Vance Management raised its stake in shares of Allergan PLC by 112.8% in the second quarter. Eaton Vance Management now owns 1,713,711 shares of the company’s stock worth $396,021,000 after buying an additional 908,569 shares during the period. Institutional investors own 85.20% 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.
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.