Teva Pharmaceutical Industries Ltd. (TEVA) Cut to “Sell” at Zacks Investment Research
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Although Teva is working on the integration of Actavis Generics and progressing with its branded pipeline, headwinds persist in the form of generic competition for Copaxone, as well as competition for branded products. Meanwhile, the generics segment could remain under pressure due to pricing erosion as well as the absence of important new product launches. However, the Actavis Generics acquisition will help Teva strengthen its position in key generic markets. Teva continues to progress with its branded and generics drugs pipeline and is looking to strengthen its biosimilar pipeline. Meanwhile, Teva intends to accelerate growth platforms, protect and expand core franchises, expand its global presence, pursue strategic deals and reduce the cost base. Estimates have been going down ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
Several other analysts also recently weighed in on the stock. Mizuho reiterated a “buy” rating on shares of Teva Pharmaceutical Industries in a research report on Sunday, July 17th. RBC Capital Markets set a $71.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “buy” rating in a research report on Sunday, September 11th. Bank of America Corp. set a $72.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “buy” rating in a research report on Saturday, October 1st. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $57.00 price objective (up from $55.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, August 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Teva Pharmaceutical Industries in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Teva Pharmaceutical Industries presently has an average rating of “Buy” and a consensus target price of $66.98.
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Shares of Teva Pharmaceutical Industries (NYSE:TEVA) traded down 0.85% during mid-day trading on Wednesday, hitting $44.18. 3,236,753 shares of the company’s stock traded hands. The stock has a market cap of $40.38 billion, a P/E ratio of 29.51 and a beta of 0.74. The stock has a 50 day moving average price of $49.57 and a 200-day moving average price of $52.37. Teva Pharmaceutical Industries has a 1-year low of $44.00 and a 1-year high of $66.55.
Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.05. Teva Pharmaceutical Industries had a net margin of 7.56% and a return on equity of 17.77%. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Teva Pharmaceutical Industries will post $5.24 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Krilogy Financial LLC boosted its stake in shares of Teva Pharmaceutical Industries by 1.0% in the second quarter. Krilogy Financial LLC now owns 2,635 shares of the company’s stock worth $132,000 after buying an additional 25 shares during the last quarter. Veritable L.P. raised its position in shares of Teva Pharmaceutical Industries by 0.5% in the second quarter. Veritable L.P. now owns 5,216 shares of the company’s stock worth $262,000 after buying an additional 26 shares during the period. Toronto Dominion Bank raised its position in shares of Teva Pharmaceutical Industries by 0.6% in the second quarter. Toronto Dominion Bank now owns 6,025 shares of the company’s stock worth $304,000 after buying an additional 35 shares during the period. Trust Co raised its position in shares of Teva Pharmaceutical Industries by 0.3% in the first quarter. Trust Co now owns 13,980 shares of the company’s stock worth $748,000 after buying an additional 40 shares during the period. Finally, WESPAC Advisors SoCal LLC raised its position in shares of Teva Pharmaceutical Industries by 1.4% in the second quarter. WESPAC Advisors SoCal LLC now owns 3,550 shares of the company’s stock worth $178,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 63.35% of the company’s stock.
Teva Pharmaceutical Industries Company Profile
Teva Pharmaceutical Industries Limited is a global pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. It has a global portfolio of approximately 1,000 molecules.
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