Allergan (NYSE:AGN) Downgraded to Neutral at UBS Group

UBS Group cut shares of Allergan (NYSE:AGN) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, 24/7 WallStreet reports. The brokerage currently has $203.00 price target on the stock, up from their prior price target of $189.00.

Several other brokerages have also recently issued reports on AGN. ValuEngine cut Allergan from a hold rating to a sell rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Allergan from $176.00 to $188.00 and gave the stock an equal weight rating in a research report on Wednesday, August 7th. Wells Fargo & Co reiterated an outperform rating and issued a $184.00 price target (up from $176.00) on shares of Allergan in a report on Monday, September 30th. Royal Bank of Canada reissued a hold rating and set a $178.00 price target on shares of Allergan in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald raised their price objective on Allergan from $125.00 to $165.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $175.90.

AGN traded down $0.26 during trading on Tuesday, hitting $184.96. The company had a trading volume of 1,609,414 shares, compared to its average volume of 3,229,877. Allergan has a 1-year low of $114.27 and a 1-year high of $186.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.00 and a quick ratio of 0.88. The company has a market cap of $60.28 billion, a PE ratio of 11.08, a P/E/G ratio of 2.17 and a beta of 1.66. The business has a 50-day moving average of $174.75 and a 200-day moving average of $157.69.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $4.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $4.25. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.88 billion. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $4.25 EPS. Research analysts forecast that Allergan will post 16.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 13th will be paid a $0.74 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.96 annualized dividend and a dividend yield of 1.60%. Allergan’s payout ratio is 17.74%.

A number of institutional investors have recently added to or reduced their stakes in AGN. Nuveen Asset Management LLC raised its position in shares of Allergan by 1,665.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock worth $519,813,000 after buying an additional 2,928,846 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Allergan by 415.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,777,375 shares of the company’s stock valued at $299,114,000 after acquiring an additional 1,432,555 shares during the period. Magnetar Financial LLC raised its holdings in Allergan by 7,332.9% during the second quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock worth $161,783,000 after purchasing an additional 953,272 shares in the last quarter. OZ Management LP bought a new stake in Allergan during the second quarter worth approximately $150,878,000. Finally, Paulson & CO. Inc. raised its holdings in Allergan by 45.2% during the second quarter. Paulson & CO. Inc. now owns 2,249,500 shares of the company’s stock worth $376,634,000 after purchasing an additional 700,000 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Allergan (NYSE:AGN)

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