Allergan plc (NYSE:AGN) – Equities researchers at Piper Jaffray Companies lowered their Q4 2018 earnings estimates for Allergan in a research note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst D. Amsellem now anticipates that the company will earn $4.21 per share for the quarter, down from their previous forecast of $4.36. Piper Jaffray Companies currently has a “Hold” rating and a $164.00 target price on the stock. Piper Jaffray Companies also issued estimates for Allergan’s Q1 2019 earnings at $3.79 EPS, Q2 2019 earnings at $4.09 EPS, Q3 2019 earnings at $4.11 EPS, FY2019 earnings at $16.36 EPS and FY2020 earnings at $17.60 EPS.
Several other research firms also recently weighed in on AGN. Zacks Investment Research raised Allergan from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research note on Wednesday, July 11th. Raymond James reaffirmed a “buy” rating and issued a $232.00 price objective (up from $211.00) on shares of Allergan in a research note on Monday, September 17th. ValuEngine downgraded Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday. Deutsche Bank set a $210.00 price objective on Allergan and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, Cowen set a $255.00 price objective on Allergan and gave the company a “buy” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Allergan currently has an average rating of “Buy” and a consensus target price of $210.18.
Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business posted $4.15 EPS. Allergan’s quarterly revenue was down 3.0% on a year-over-year basis.
Several large investors have recently made changes to their positions in the company. Parnassus Investments CA boosted its holdings in Allergan by 3.1% in the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock valued at $307,566,000 after acquiring an additional 55,029 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Allergan by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after acquiring an additional 99,490 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Allergan by 1.5% in the second quarter. Toronto Dominion Bank now owns 517,895 shares of the company’s stock valued at $90,451,000 after acquiring an additional 7,683 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. boosted its holdings in Allergan by 110.9% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 131,212 shares of the company’s stock valued at $21,876,000 after acquiring an additional 69,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Allergan by 1.5% in the second quarter. Gamco Investors INC. ET AL now owns 74,591 shares of the company’s stock valued at $12,436,000 after acquiring an additional 1,138 shares during the last quarter. 77.58% of the stock is owned by institutional investors and hedge funds.
In other Allergan news, Director Joseph H. Boccuzi acquired 900 shares of the stock in a transaction dated Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, with a total value of $171,531.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is currently 17.61%.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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