Allergan plc (NYSE:AGN) – Research analysts at Gabelli dropped their FY2018 EPS estimates for shares of Allergan in a research report issued on Wednesday. Gabelli analyst K. Kedra now expects that the company will post earnings per share of $15.95 for the year, down from their prior forecast of $16.20. Gabelli also issued estimates for Allergan’s FY2019 earnings at $16.75 EPS and FY2020 earnings at $18.95 EPS.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the business posted $3.32 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.
Several other research firms have also commented on AGN. Cantor Fitzgerald set a $191.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Tuesday, December 12th. Credit Suisse Group set a $243.00 price target on shares of Allergan and gave the company an “outperform” rating in a report on Tuesday, October 17th. Citigroup reduced their price target on shares of Allergan from $280.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Deutsche Bank restated a “buy” rating and issued a $215.00 price target on shares of Allergan in a report on Tuesday. Finally, Wells Fargo & Co restated a “buy” rating on shares of Allergan in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $226.95.
Allergan (NYSE:AGN) traded down $1.00 during trading hours on Friday, hitting $176.12. 2,270,825 shares of the stock traded hands, compared to its average volume of 2,492,762. Allergan has a twelve month low of $160.07 and a twelve month high of $256.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The company has a market cap of $58,910.00, a price-to-earnings ratio of -7.80, a P/E/G ratio of 1.18 and a beta of 1.11.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Peloton Wealth Strategists grew its position in Allergan by 37.1% during the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after purchasing an additional 2,835 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in Allergan by 39.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after purchasing an additional 4,244 shares during the last quarter. Colony Group LLC grew its position in Allergan by 9.9% during the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after purchasing an additional 3,577 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in Allergan by 67.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock worth $1,033,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Alta Capital Management LLC grew its position in Allergan by 1.4% during the 3rd quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock worth $33,074,000 after purchasing an additional 2,151 shares during the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.
In related news, insider William Meury sold 11,807 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of Allergan stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.59%. Allergan’s dividend payout ratio (DPR) is presently -12.39%.
Allergan announced that its board has authorized a stock repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Allergan Company Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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