Teva Pharmaceutical Industries Ltd Stock Rating Reaffirmed by Zacks (TEVA)
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday. They currently have a $57.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 5.52% from the stock’s previous close.
Zacks’ analyst wrote, “Teva reported second quarter 2014 earnings of $1.23 per ADS, up 2.5% y/y. Second quarter revenues grew 2.6% to $5.045 billion, slightly below the Zacks Consensus Estimate of $5.078 billion. Teva is going through a transition period and 2014 will be a challenging year. Headwinds include new competition for branded products (especially Copaxone) and fewer generic product launches. While the company’s new strategy looks good, execution remains the key and may take some time. We are encouraged by Teva’s efforts to delay the entry of generic Copaxone. The Copaxone appeal hearing in the Supreme Court is scheduled for Oct 15 with a ruling expected this fall or early next year. However, we prefer to remain on the sidelines given the low visibility on long-term growth prospects. “
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) traded down 1.70% during mid-day trading on Monday, hitting $53.10. 2,177,684 shares of the company’s stock traded hands. Teva Pharmaceutical Industries Ltd has a 52 week low of $36.26 and a 52 week high of $55.70. The stock has a 50-day moving average of $53.64 and a 200-day moving average of $50.07. The company has a market cap of $45.294 billion and a P/E ratio of 17.79.
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) last announced its earnings results on Thursday, July 31st. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $5.00 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that Teva Pharmaceutical Industries Ltd will post $4.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.353 per share. This represents a $1.41 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, August 19th.
TEVA has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Teva Pharmaceutical Industries Ltd from $55.70 to $58.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Teva Pharmaceutical Industries Ltd from $57.00 to $59.00 in a research note on Thursday. Finally, analysts at Sterne Agee raised their price target on shares of Teva Pharmaceutical Industries Ltd from $53.00 to $56.00 in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.77.
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) is an Israel-based pharmaceutical and drug company.
To view Zacks’ full report, visit Zacks’ official website.
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