Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan and gave the stock a hold rating in a research report on Friday, October 13th. Royal Bank of Canada restated an outperform rating and issued a $250.00 price objective (down from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. Leerink Swann restated an outperform rating and issued a $237.00 price objective on shares of Allergan in a research report on Monday, November 27th. UBS Group restated a buy rating and issued a $275.00 price objective on shares of Allergan in a research report on Tuesday, September 26th. Finally, Vetr cut shares of Allergan from a strong-buy rating to a buy rating and set a $187.73 price objective on the stock. in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Allergan has an average rating of Hold and an average price target of $230.99.
Allergan (NYSE AGN) traded down $3.59 during mid-day trading on Friday, hitting $168.70. 429,415 shares of the company traded hands, compared to its average volume of 2,920,000. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The company has a market capitalization of $57,300.00, a PE ratio of -7.47, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. Allergan has a one year low of $160.07 and a one year high of $256.80.
Allergan declared that its Board of Directors has approved a share repurchase plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Thursday, November 16th. Allergan’s payout ratio is currently -12.39%.
In other news, insider William Meury sold 11,807 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Chris W. Bodine bought 3,030 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $164.77 per share, for a total transaction of $499,253.10. The disclosure for this purchase can be found here. Insiders have acquired 17,630 shares of company stock worth $2,890,057 over the last quarter. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Peloton Wealth Strategists grew its holdings in shares of Allergan by 37.1% in the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after purchasing an additional 2,835 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of Allergan by 39.0% in the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after purchasing an additional 4,244 shares during the last quarter. Colony Group LLC lifted its stake in Allergan by 9.9% in the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after acquiring an additional 3,577 shares during the period. Clear Harbor Asset Management LLC lifted its stake in Allergan by 67.7% in the third quarter. Clear Harbor Asset Management LLC now owns 5,039 shares of the company’s stock worth $1,033,000 after acquiring an additional 2,035 shares during the period. Finally, Alta Capital Management LLC lifted its stake in Allergan by 1.4% in the third quarter. Alta Capital Management LLC now owns 161,377 shares of the company’s stock worth $33,074,000 after acquiring an additional 2,151 shares during the period. Hedge funds and other institutional investors own 81.14% of the company’s stock.
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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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