Allergan plc (NYSE:AGN) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $184.05.
Several brokerages recently weighed in on AGN. Jefferies Financial Group began coverage on Allergan in a research report on Monday, April 15th. They issued a “hold” rating and a $144.95 price objective for the company. SunTrust Banks started coverage on Allergan in a research report on Tuesday, March 19th. They set a “buy” rating and a $178.00 price target for the company. Credit Suisse Group set a $155.00 price target on Allergan and gave the stock a “hold” rating in a research report on Monday, March 25th. Raymond James lowered their price target on Allergan from $181.00 to $166.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Mizuho lowered their price target on Allergan to $200.00 and set a “buy” rating for the company in a research report on Wednesday, January 30th.
Shares of Allergan stock opened at $138.04 on Friday. The company has a market capitalization of $45.39 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.32. Allergan has a fifty-two week low of $125.84 and a fifty-two week high of $197.00. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.
Allergan declared that its board has approved a stock repurchase program on Tuesday, January 29th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, May 13th. This represents a $2.96 annualized dividend and a dividend yield of 2.14%. Allergan’s dividend payout ratio is currently 17.74%.
In related news, Chairman Brent L. Saunders acquired 1,760 shares of Allergan stock in a transaction dated Thursday, March 7th. The shares were acquired at an average cost of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AGN. Liberty Wealth Management LLC raised its stake in shares of Allergan by 108.8% in the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Legacy Bridge LLC acquired a new stake in shares of Allergan in the first quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Allergan by 2,162.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Allergan in the first quarter valued at $29,000. Finally, JNBA Financial Advisors acquired a new stake in shares of Allergan in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 80.25% 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. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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