Allergan plc (NYSE:AGN) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $155.21 and last traded at $153.43, with a volume of 4013599 shares trading hands. The stock had previously closed at $159.91.
A number of research analysts have recently commented on AGN shares. Vetr lowered Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price target on the stock. in a report on Wednesday, December 6th. Morgan Stanley set a $200.00 price target on Allergan and gave the company a “buy” rating in a report on Wednesday, December 6th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Wednesday, December 6th. Credit Suisse Group set a $214.00 target price on Allergan and gave the stock a “buy” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $218.00 target price on Allergan and gave the stock a “buy” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Allergan has a consensus rating of “Buy” and an average price target of $225.94.
The stock has a market capitalization of $52,820.00, a P/E ratio of -12.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 1.06.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.87%. This is a boost from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio (DPR) is currently -23.35%.
In related news, Director Christopher J. Coughlin purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, with a total value of $1,633,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. Insiders purchased a total of 19,630 shares of company stock worth $3,211,937 in the last three months. 0.36% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Edgewood Management LLC boosted its position in Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after acquiring an additional 869,248 shares during the period. Renaissance Technologies LLC boosted its position in Allergan by 1,049.7% during the 4th quarter. Renaissance Technologies LLC now owns 726,269 shares of the company’s stock worth $118,803,000 after acquiring an additional 663,100 shares during the period. Baupost Group LLC MA boosted its position in Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after acquiring an additional 531,600 shares during the period. Asset Management One Co. Ltd. boosted its position in Allergan by 4,852.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after acquiring an additional 492,930 shares during the period. Finally, Millennium Management LLC boosted its position in Allergan by 277.7% during the 4th quarter. Millennium Management LLC now owns 651,755 shares of the company’s stock worth $106,614,000 after acquiring an additional 479,174 shares during the period. 79.66% of the stock is currently owned by hedge funds and other institutional investors.
Allergan 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.
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