Allergan (NYSE:AGN) had its target price cut by Wells Fargo & Co from $189.00 to $188.00 in a research report report published on Wednesday, May 8th, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.
Several other brokerages also recently commented on AGN. SunTrust Banks assumed coverage on shares of Allergan in a report on Tuesday, March 19th. They set a buy rating and a $178.00 price target on the stock. ValuEngine upgraded shares of Allergan from a strong sell rating to a sell rating in a report on Tuesday, January 15th. Credit Suisse Group set a $155.00 price target on shares of Allergan and gave the company a hold rating in a report on Monday, March 25th. Royal Bank of Canada set a $165.00 price target on shares of Allergan and gave the company a hold rating in a report on Monday, March 25th. Finally, UBS Group cut their price target on shares of Allergan from $174.00 to $173.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $183.00.
Allergan stock opened at $121.91 on Wednesday. The stock has a market capitalization of $41.19 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32. Allergan has a twelve month low of $120.68 and a twelve month high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 2.43%. Allergan’s dividend payout ratio is currently 17.74%.
In other Allergan news, Chairman Brent L. Saunders purchased 1,760 shares of the stock in a transaction dated Thursday, March 7th. The stock was purchased at an average price of $143.67 per share, with a total value of $252,859.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wesbanco Bank Inc. lifted its position in shares of Allergan by 6.8% in the 1st quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock worth $725,000 after purchasing an additional 316 shares during the period. Morgan Stanley increased its stake in Allergan by 22.2% during the 3rd quarter. Morgan Stanley now owns 2,660,131 shares of the company’s stock valued at $506,702,000 after purchasing an additional 483,860 shares in the last quarter. Nomura Holdings Inc. increased its stake in Allergan by 9.2% during the 4th quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock valued at $4,074,000 after purchasing an additional 2,580 shares in the last quarter. American Century Companies Inc. increased its stake in Allergan by 21.1% during the 4th quarter. American Century Companies Inc. now owns 1,235,389 shares of the company’s stock valued at $165,122,000 after purchasing an additional 214,955 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Allergan during the 1st quarter valued at approximately $233,000. 80.31% of the stock is owned by hedge funds and other institutional investors.
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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