Allergan (NYSE:AGN) Hits New 1-Year High at $186.17

Allergan plc (NYSE:AGN) hit a new 52-week high during trading on Wednesday . The company traded as high as $186.17 and last traded at $185.64, with a volume of 9867 shares changing hands. The stock had previously closed at $185.09.

AGN has been the topic of several research reports. ValuEngine lowered shares of Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $178.00 price objective on shares of Allergan in a report on Thursday, August 8th. Wells Fargo & Co reiterated an “outperform” rating and issued a $184.00 price objective (up previously from $176.00) on shares of Allergan in a research note on Monday, September 30th. Barclays increased their price objective on shares of Allergan from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, UBS Group cut shares of Allergan from a “buy” rating to a “neutral” rating and raised their target price for the stock from $189.00 to $203.00 in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $175.90.

The company has a market cap of $60.99 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.18 and a beta of 1.64. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $179.42 and its 200 day moving average is $160.74.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $4.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $4.25. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm posted $4.25 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Analysts predict that Allergan plc will post 16.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 13th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.96 dividend on an annualized basis and a yield of 1.59%. Allergan’s payout ratio is 17.74%.

A number of hedge funds have recently modified their holdings of AGN. State Street Corp grew its stake in Allergan by 12.9% in the 3rd quarter. State Street Corp now owns 14,814,455 shares of the company’s stock valued at $2,493,128,000 after acquiring an additional 1,696,205 shares during the period. Longview Partners Guernsey LTD raised its position in Allergan by 10.7% during the second quarter. Longview Partners Guernsey LTD now owns 6,986,566 shares of the company’s stock worth $1,169,761,000 after acquiring an additional 676,771 shares during the period. Third Point LLC purchased a new position in Allergan during the third quarter valued at $605,844,000. Nuveen Asset Management LLC lifted its holdings in Allergan by 1,665.9% during the second quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after purchasing an additional 2,928,846 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Allergan by 19.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,798,601 shares of the company’s stock valued at $468,570,000 after purchasing an additional 463,755 shares in the last quarter. Institutional investors own 81.93% of the company’s stock.

About Allergan (NYSE:AGN)

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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