Zacks Investment Research Lowers Teva Pharmaceutical Industries Ltd. (TEVA) to Sell
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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 commented on TEVA. JPMorgan Chase & Co. restated an “overweight” rating on shares of Teva Pharmaceutical Industries in a research note on Saturday, June 25th. Royal Bank Of Canada dropped their price target on shares of Teva Pharmaceutical Industries from $75.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 12th. Jefferies Group dropped their price target on shares of Teva Pharmaceutical Industries from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Oppenheimer Holdings Inc. dropped their price target on shares of Teva Pharmaceutical Industries from $77.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 14th. Finally, Goldman Sachs Group Inc. cut shares of Teva Pharmaceutical Industries from a “buy” rating to a “neutral” rating and dropped their price target for the company from $70.00 to $60.00 in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $66.98.
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Teva Pharmaceutical Industries (NYSE:TEVA) traded down 0.83% during trading on Wednesday, hitting $44.19. The stock had a trading volume of 3,211,475 shares. The firm has a market capitalization of $40.39 billion, a PE ratio of 29.52 and a beta of 0.74. Teva Pharmaceutical Industries has a 1-year low of $44.00 and a 1-year high of $66.55. The firm has a 50 day moving average price of $49.57 and a 200-day moving average price of $52.37.
Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Thursday, August 4th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.05. The company earned $5 billion during the quarter, compared to the consensus estimate of $4.86 billion. Teva Pharmaceutical Industries had a return on equity of 17.77% and a net margin of 7.56%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.43 EPS. On average, equities research analysts expect that Teva Pharmaceutical Industries will post $5.24 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Jennison Associates increased its stake in Teva Pharmaceutical Industries by 9.3% in the third quarter. Jennison Associates now owns 1,909,460 shares of the company’s stock valued at $107,808,000 after buying an additional 162,612 shares in the last quarter. Harvest Management acquired a new stake in Teva Pharmaceutical Industries during the third quarter valued at $282,000. Northcoast Asset Management increased its stake in Teva Pharmaceutical Industries by 1.2% in the third quarter. Northcoast Asset Management now owns 81,121 shares of the company’s stock valued at $4,580,000 after buying an additional 954 shares in the last quarter. EQIS Capital Management increased its stake in Teva Pharmaceutical Industries by 28.8% in the fourth quarter. EQIS Capital Management now owns 33,022 shares of the company’s stock valued at $2,168,000 after buying an additional 7,393 shares in the last quarter. Finally, Janus Capital Management increased its stake in Teva Pharmaceutical Industries by 33.4% in the third quarter. Janus Capital Management now owns 3,257,771 shares of the company’s stock valued at $183,934,000 after buying an additional 815,256 shares in the last quarter. 63.35% of the stock is owned by institutional investors.
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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