Morgan Stanley Downgrades Rating On Allergan plc Ordinary Shares (AGN)


Allergan plc Ordinary Shares (NYSE:AGN).

On July 26 Citigroup left the company rating at “Buy” but raised the price target from $285.00 to $290.00. July 17 investment analysts at Deutsche Bank made no change to the stock rating of “Buy” but moved down the price target to $273.00 from $282.00.

Cantor Fitzgerald began coverage with a rating of “Neutral”.

The company is so far trading down since yesterday’s close of 215. Additionally the company announced a dividend paid on Friday September 15th, 2017. The dividend payment was $0.700 per share for the quarter which is $2.80 annualized. The dividend yield was $1.27. The ex-dividend date was set for Wednesday the 16th of August 2017.

It is currently trading at $211.76 which is just under $229.79, the stock’s 50 day moving average and quite a bit lower than the 200 day moving average of $236.07. The 50 day moving average was down $-18.03 whereas the 200 day average was down by -10.30%.

Allergan plc, launched on May 16, 2013, is a specialty pharmaceutical company. The Company is involved in the development, manufacturing, marketing and distribution of brand name pharmaceutical products, medical aesthetics, biosimilar and over-the-counter (OTC) pharmaceutical products. The Company operates through three segments: US Specialized Therapeutics, US General Medicine and International. The US Specialized Therapeutics segment includes sales relating to branded products within the United States, including Medical Aesthetics, Medical Dermatology, Eye Care, Neurosciences and Urology therapeutic products. The US General Medicine segment includes sales relating to branded products within the United States that do not fall into the US Specialized Therapeutics business units, including Central Nervous System, Gastrointestinal, Women’s Health, Anti-Infectives and Diversified Brands. The International segment includes sales relating to products sold outside the United States. Within its US Specialized Therapeutics, US General Medicine and International operations, the Company sells its brand and aesthetic pharmaceutical products primarily to drug wholesalers, retailers and distributors, including national retail drug and food store chains, hospitals, clinics, mail-order retailers, government agencies and managed healthcare providers, such as health maintenance organizations and other institutions..

The most current P/E ratio is 6.45 and the market cap of the company is 70.79B. As of the latest earnings report the EPS was $32.82 and is projected to be $16.25 for the current year with 334,306,000 shares outstanding. Analysts expect next quarter’s EPS will be $4.73 with next year’s EPS projected to be $17.86.

Investors are a little more bearish on Allergan plc Ordinary Shares of late if you look at the uptick in short interest. The stock saw a rise in short interest of 2.95% between August 15, 2017 and August 31, 2017. Short shares grew from 6,071,741 to 6,250,830 over that timeframe. With short interest at 6,250,830 and short average daily volume at 2,004,195, days to cover is 3.0 and the percentage of shorted shares is 0.02% as of August 31.