Jefferies Financial Group started coverage on shares of Allergan (NYSE:AGN) in a report released on Monday, Benzinga reports. The brokerage issued a hold rating and a $144.95 price objective on the stock.
A number of other analysts have also commented on the stock. ValuEngine lowered shares of Allergan from a sell rating to a strong sell rating in a research report on Friday, December 21st. Morgan Stanley set a $183.00 price objective on shares of Allergan and gave the stock a buy rating in a research report on Thursday, December 20th. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the stock a hold rating in a research report on Wednesday, December 26th. Mizuho cut their price objective on shares of Allergan to $200.00 and set a buy rating on the stock in a research report on Wednesday, January 30th. Finally, Zacks Investment Research lowered shares of Allergan from a hold rating to a sell rating in a research report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $188.14.
Shares of AGN stock opened at $143.58 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market capitalization of $48.21 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. Allergan has a 12 month low of $125.84 and a 12 month high of $197.00.
Allergan announced that its board has initiated a stock buyback program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, Chairman Brent L. Saunders acquired 1,760 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average cost of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AGN. Bank of New York Mellon Corp increased its holdings in shares of Allergan by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 3,637,854 shares of the company’s stock valued at $692,939,000 after purchasing an additional 92,297 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Allergan by 48.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,707 shares of the company’s stock valued at $897,000 after acquiring an additional 1,538 shares in the last quarter. Putnam Investments LLC grew its stake in shares of Allergan by 2.6% in the third quarter. Putnam Investments LLC now owns 53,619 shares of the company’s stock valued at $10,214,000 after acquiring an additional 1,338 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Allergan in the third quarter valued at about $1,564,000. Finally, Smith Moore & CO. grew its stake in shares of Allergan by 23.9% in the third quarter. Smith Moore & CO. now owns 2,245 shares of the company’s stock valued at $428,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 80.65% 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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