A number of other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada set a $250.00 target price on shares of Allergan PLC. and gave the company a buy rating in a research note on Sunday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Allergan PLC. from a sell rating to a hold rating in a research note on Monday, October 23rd. J P Morgan Chase & Co set a $275.00 target price on shares of Allergan PLC. and gave the company a buy rating in a research note on Sunday, October 22nd. Cowen and Company set a $280.00 target price on shares of Allergan PLC. and gave the company a buy rating in a research note on Friday, October 20th. Finally, Citigroup Inc. lowered their target price on shares of Allergan PLC. from $280.00 to $240.00 and set a buy rating on the stock in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $246.73.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. Allergan PLC.’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $3.32 earnings per share.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. Allergan PLC.’s dividend payout ratio is currently 9.95%.
Allergan PLC. declared that its board has approved a share repurchase plan on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC raised its holdings in Allergan PLC. by 3,327.3% during the 2nd quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock valued at $2,035,000 after buying an additional 366 shares during the period. Howard Hughes Medical Institute purchased a new stake in Allergan PLC. during the 2nd quarter valued at $103,000. Jacobi Capital Management LLC raised its holdings in Allergan PLC. by 4.9% during the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after buying an additional 22 shares during the period. JNBA Financial Advisors raised its holdings in Allergan PLC. by 2.5% during the 1st quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock valued at $116,000 after buying an additional 12 shares during the period. Finally, Massey Quick & Co. LLC raised its holdings in Allergan PLC. by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after buying an additional 385 shares during the period. Institutional investors own 82.02% of the company’s stock.
About Allergan PLC.
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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