Allergan PLC (NYSE:AGN) dropped 2.8% during trading on Wednesday after Mizuho lowered their price target on the stock from $305.00 to $299.00. Mizuho currently has a buy rating on the stock. Allergan PLC traded as low as $229.33 and last traded at $231.30, with a volume of 3,369,448 shares traded. The stock had previously closed at $237.95.
Several other equities research analysts have also commented on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Allergan PLC in a research note on Wednesday, July 6th. Leerink Swann lifted their price target on shares of Allergan PLC from $272.00 to $294.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. set a $325.00 price target on shares of Allergan PLC and gave the stock a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research lowered shares of Allergan PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $285.60 price objective on the stock in a research report on Monday, August 1st. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Allergan PLC has an average rating of “Buy” and a consensus price target of $302.23.
A number of large investors have recently added to or reduced their stakes in AGN. Veritas Asset Management LLP bought a new stake in Allergan PLC during the second quarter worth about $492,177,000. Emerald Acquisition Ltd. bought a new stake in Allergan PLC during the second quarter worth about $231,671,000. Appaloosa LP increased its stake in Allergan PLC by 351.7% in the second quarter. Appaloosa LP now owns 1,260,809 shares of the company’s stock worth $291,360,000 after buying an additional 981,700 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in Allergan PLC by 133.2% in the second quarter. Thornburg Investment Management Inc. now owns 1,717,844 shares of the company’s stock worth $396,977,000 after buying an additional 981,355 shares during the last quarter. Finally, Eaton Vance Management increased its stake in Allergan PLC by 112.8% in the second quarter. Eaton Vance Management now owns 1,713,711 shares of the company’s stock worth $396,021,000 after buying an additional 908,569 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
The company has a market capitalization of $91.28 billion, a PE ratio of 21.95 and a beta of 0.81. The stock’s 50 day moving average price is $238.58 and its 200-day moving average price is $238.43.
Allergan PLC (NYSE:AGN) last posted its quarterly earnings data on Monday, August 8th. The company reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.34 by $0.01. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The company earned $3.68 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $4.41 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Allergan PLC will post $14.00 EPS for the current year.
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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