Allergan PLC. (NYSE:AGN) – Investment analysts at William Blair cut their FY2019 earnings per share (EPS) estimates for shares of Allergan PLC. in a report issued on Monday. William Blair analyst T. Lugo now expects that the company will post earnings of $17.68 per share for the year, down from their prior estimate of $18.90.
AGN has been the subject of several other reports. Mizuho restated a “buy” rating and set a $267.00 price objective on shares of Allergan PLC. in a research report on Wednesday, August 2nd. Credit Suisse Group set a $288.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research report on Saturday, August 5th. Royal Bank Of Canada set a $285.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Allergan PLC. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $252.39.
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Shares of Allergan PLC. (NYSE:AGN) traded down 0.52% during trading on Thursday, hitting $188.28. The stock had a trading volume of 4,755,555 shares. Allergan PLC. has a 12-month low of $182.80 and a 12-month high of $256.80. The stock’s 50-day moving average is $211.30 and its 200-day moving average is $230.36. The stock has a market capitalization of $62.94 billion, a P/E ratio of 5.74 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the firm posted $3.35 EPS. Allergan PLC.’s quarterly revenue was up 8.8% compared to the same quarter last year.
Allergan PLC. announced that its board has authorized a share buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Allergan PLC. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after acquiring an additional 482,220 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Allergan PLC. by 8.8% in the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after acquiring an additional 364,722 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in shares of Allergan PLC. in the 1st quarter worth about $761,339,000. Edgewood Management LLC raised its holdings in shares of Allergan PLC. by 7.0% in the 1st quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock worth $646,090,000 after acquiring an additional 178,055 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Allergan PLC. by 3.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock worth $481,045,000 after acquiring an additional 73,081 shares during the last quarter. Institutional investors own 81.94% of the company’s stock.
Allergan PLC. 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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