Allergan (AGN) Stock Rating Lowered by TheStreet

Allergan (NYSE:AGN) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued on Monday.

Other analysts also recently issued reports about the company. Wells Fargo & Company restated an “outperform” rating and issued a $280.00 price target (up from $270.00) on shares of Allergan in a research note on Wednesday, August 9th. BidaskClub downgraded Allergan from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Deutsche Bank restated a “buy” rating and issued a $278.00 price target (up from $273.00) on shares of Allergan in a research note on Wednesday, August 9th. UBS restated an “outperform” rating and issued a $275.00 price target on shares of Allergan in a research note on Wednesday, August 9th. Finally, Argus restated a “buy” rating and issued a $280.00 price target on shares of Allergan in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Allergan presently has an average rating of “Buy” and an average target price of $244.47.

Allergan (NYSE AGN) traded down $2.62 during trading hours on Monday, hitting $164.28. The company’s stock had a trading volume of 7,569,700 shares, compared to its average volume of 2,931,912. The firm has a market cap of $55,508.12, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11. Allergan has a 52-week low of $160.07 and a 52-week high of $256.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08.

Allergan (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 EPS. equities research analysts forecast that Allergan will post 16.28 EPS for the current year.

Allergan declared that its Board of Directors has initiated a share repurchase program on Monday, September 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Christopher J. Coughlin purchased 10,000 shares of Allergan stock in a transaction on Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Meury sold 11,807 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Family Office LLC boosted its holdings in Allergan by 3,327.3% in the second quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock worth $2,035,000 after acquiring an additional 366 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Allergan in the second quarter worth approximately $103,000. Jacobi Capital Management LLC boosted its holdings in Allergan by 4.9% in the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after acquiring an additional 22 shares in the last quarter. Massey Quick & Co. LLC boosted its holdings in Allergan by 334.8% in the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after acquiring an additional 385 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its holdings in Allergan by 255.2% in the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.

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About Allergan

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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