Allergan (NYSE:AGN) issued its quarterly earnings data on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.24, MarketWatch Earnings reports. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the business earned $3.74 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis.
AGN traded down $3.25 during trading on Thursday, reaching $122.42. The company had a trading volume of 3,642,176 shares, compared to its average volume of 2,237,139. The stock has a market capitalization of $43.08 billion, a P/E ratio of 7.33, a P/E/G ratio of 1.20 and a beta of 1.32. Allergan has a 12-month low of $125.84 and a 12-month high of $197.00. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 14th will be paid a $0.74 dividend. The ex-dividend date is Monday, May 13th. This represents a $2.96 dividend on an annualized basis and a yield of 2.42%. Allergan’s dividend payout ratio is currently 17.74%.
A number of institutional investors and hedge funds have recently modified their holdings of AGN. BlackRock Inc. grew its stake in Allergan by 2.9% during the 4th quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock valued at $2,869,149,000 after acquiring an additional 600,535 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Allergan by 14,208.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock valued at $155,000 after acquiring an additional 20,617,639 shares in the last quarter. Clearbridge Investments LLC grew its stake in Allergan by 8.6% during the 1st quarter. Clearbridge Investments LLC now owns 9,167,006 shares of the company’s stock valued at $1,342,141,000 after acquiring an additional 726,688 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Allergan by 6.5% during the 1st quarter. Artisan Partners Limited Partnership now owns 6,767,753 shares of the company’s stock valued at $990,867,000 after acquiring an additional 410,746 shares in the last quarter. Finally, FMR LLC grew its stake in Allergan by 42.0% during the 1st quarter. FMR LLC now owns 6,042,005 shares of the company’s stock valued at $884,611,000 after acquiring an additional 1,788,265 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.
AGN has been the topic of several research reports. Morgan Stanley cut shares of Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 price target on the stock. in a research report on Wednesday, January 30th. Royal Bank of Canada cut shares of Allergan from an “outperform” rating to a “sector perform” rating and set a $165.00 price target on the stock. in a research report on Wednesday, January 30th. Mizuho dropped their price target on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Credit Suisse Group cut shares of Allergan from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $197.00 to $161.00 in a research report on Thursday, January 31st. Finally, Wells Fargo & Co dropped their price target on shares of Allergan from $217.00 to $202.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $183.00.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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