ValuEngine Downgrades Allergan (AGN) to Strong Sell

Allergan (NYSE:AGN) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday, ValuEngine reports.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley set a $183.00 price objective on shares of Allergan and gave the company a “buy” rating in a research note on Thursday, December 20th. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the company a “hold” rating in a research note on Wednesday, December 26th. Mizuho decreased their target price on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Credit Suisse Group decreased their target price on shares of Allergan from $200.00 to $197.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $190.30.

Shares of NYSE:AGN opened at $145.71 on Thursday. The company has a market capitalization of $48.71 billion, a P/E ratio of 8.73, a PEG ratio of 1.17 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. Allergan has a 1 year low of $125.84 and a 1 year high of $197.00.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $0.14. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4 billion. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $4.86 earnings per share. As a group, equities analysts predict that Allergan will post 16.37 EPS for the current fiscal year.

Allergan declared that its Board of Directors has approved a share repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other Allergan news, Chairman Brent L. Saunders purchased 1,760 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average price 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 accessible through the SEC website. 0.08% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Allergan by 2.9% in the fourth quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock valued at $2,869,149,000 after buying an additional 600,535 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Allergan by 14,208.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock valued at $155,000 after purchasing an additional 20,617,639 shares during the period. Longview Partners Guernsey LTD raised its holdings in shares of Allergan by 288.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock valued at $805,450,000 after purchasing an additional 4,475,447 shares during the period. FMR LLC raised its holdings in shares of Allergan by 6.1% during the fourth quarter. FMR LLC now owns 4,253,740 shares of the company’s stock valued at $568,554,000 after purchasing an additional 245,322 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Allergan by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock valued at $533,767,000 after purchasing an additional 247,743 shares during the period. Institutional investors own 80.65% of the company’s stock.

About Allergan

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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Analyst Recommendations for Allergan (NYSE:AGN)

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