Several other brokerages have also weighed in on AGN. Vetr lowered Allergan from a hold rating to a sell rating and set a $180.97 price objective for the company. in a report on Monday, January 22nd. Credit Suisse Group set a $214.00 price objective on Allergan and gave the company a buy rating in a report on Monday, January 22nd. Morgan Stanley reissued a buy rating on shares of Allergan in a report on Wednesday, January 24th. Barclays raised Allergan from an equal weight rating to an overweight rating and increased their price objective for the company from $220.00 to $230.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine lowered Allergan from a buy rating to a hold rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $220.91.
AGN stock opened at $158.59 on Monday. The company has a market capitalization of $58,113.34, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 1.06. Allergan has a 12-month low of $142.81 and a 12-month high of $256.80.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.82%. This is an increase from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio is currently 17.61%.
In related news, insider William Meury sold 58,879 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total value of $9,457,144.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maria Teresa Hilado acquired 895 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average price of $167.39 per share, for a total transaction of $149,814.05. The disclosure for this purchase can be found here. Insiders purchased 8,095 shares of company stock worth $1,258,081 in the last quarter. 0.36% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Allergan by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,422,365 shares of the company’s stock worth $558,625,000 after buying an additional 72,303 shares in the last quarter. Parnassus Investments CA raised its position in shares of Allergan by 20.4% in the fourth quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock worth $353,633,000 after buying an additional 365,914 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Allergan by 13.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,763,209 shares of the company’s stock worth $288,426,000 after buying an additional 210,962 shares in the last quarter. Iridian Asset Management LLC CT raised its position in shares of Allergan by 4.8% in the fourth quarter. Iridian Asset Management LLC CT now owns 1,712,404 shares of the company’s stock worth $280,115,000 after buying an additional 78,455 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Allergan by 1.1% in the third quarter. Prudential Financial Inc. now owns 1,366,552 shares of the company’s stock worth $280,075,000 after buying an additional 14,440 shares in the last quarter. Institutional investors own 77.95% of the company’s stock.
Allergan Company Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.
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