Allergan (NYSE:AGN) Price Target Raised to $202.00

Allergan (NYSE:AGN) had its target price hoisted by SunTrust Banks from $194.00 to $202.00 in a research note released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the stock. SunTrust Banks also issued estimates for Allergan’s Q1 2020 earnings at $4.24 EPS, Q2 2020 earnings at $4.41 EPS, Q3 2020 earnings at $4.24 EPS, Q4 2020 earnings at $4.71 EPS, FY2020 earnings at $17.60 EPS, FY2021 earnings at $18.04 EPS, FY2022 earnings at $17.88 EPS, FY2023 earnings at $18.61 EPS and FY2024 earnings at $19.75 EPS.

A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Allergan from a hold rating to a sell rating in a report on Wednesday, October 30th. UBS Group cut shares of Allergan from a buy rating to a neutral rating and increased their price target for the company from $189.00 to $203.00 in a report on Tuesday, November 19th. Finally, Wells Fargo & Co cut shares of Allergan from an overweight rating to an equal weight rating and set a $198.00 price target on the stock. in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. Allergan has a consensus rating of Hold and an average target price of $178.72.

NYSE:AGN opened at $198.32 on Tuesday. The company’s 50 day moving average price is $191.97 and its 200-day moving average price is $177.24. Allergan has a 52 week low of $114.27 and a 52 week high of $202.21. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.40. The stock has a market cap of $65.41 billion, a price-to-earnings ratio of -12.40, a PEG ratio of 1.62 and a beta of 1.70.

Allergan (NYSE:AGN) last posted its quarterly earnings results on Monday, February 10th. The company reported $5.22 EPS for the quarter, beating the Zacks’ consensus estimate of $4.57 by $0.65. Allergan had a negative net margin of 32.76% and a positive return on equity of 9.82%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company posted $4.29 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Allergan will post 17.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 14th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, February 13th. Allergan’s dividend payout ratio is currently 16.78%.

A number of hedge funds have recently modified their holdings of the stock. Voloridge Investment Management LLC purchased a new position in shares of Allergan during the 3rd quarter worth $740,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Allergan by 1.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,208 shares of the company’s stock worth $15,686,000 after acquiring an additional 900 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in shares of Allergan during the 4th quarter worth $4,866,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Allergan by 2.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,487 shares of the company’s stock worth $755,000 after acquiring an additional 99 shares during the last quarter. Finally, Metropolis Capital Ltd boosted its stake in shares of Allergan by 19.7% during the 4th quarter. Metropolis Capital Ltd now owns 204,209 shares of the company’s stock worth $39,039,000 after acquiring an additional 33,649 shares during the last quarter. Institutional investors own 81.61% 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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