Teva Pharmaceutical Industries Ltd. (TEVA) Upgraded to Hold at Zacks Investment Research
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “2016 is a transition year for Teva as it works on the integration of Actavis Generics and progresses with its branded pipeline. Teva continues to progress with its branded and generics drugs pipeline and is also 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. However, headwinds remain in the form of generic competition for Copaxone, as well as new 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. Estimates have been going down lately ahead of the company’s Q3 earnings release. The company, however, has a positive record of earnings surprises in recent quarters.”
Several other equities research analysts have also recently weighed in on TEVA. OTR Global initiated coverage on Teva Pharmaceutical Industries in a report on Thursday, September 29th. They issued a “positive” rating for the company. Maxim Group set a $72.00 target price on Teva Pharmaceutical Industries and gave the stock a “buy” rating in a report on Friday, October 14th. Guggenheim reiterated a “buy” rating and issued a $80.00 target price on shares of Teva Pharmaceutical Industries in a report on Monday, August 15th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $75.00 target price on shares of Teva Pharmaceutical Industries in a report on Tuesday, July 26th. Finally, Royal Bank Of Canada lowered their target price on Teva Pharmaceutical Industries from $75.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, July 12th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.94.
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Teva Pharmaceutical Industries (NYSE:TEVA) traded down 0.150% during midday trading on Wednesday, reaching $43.195. The company had a trading volume of 4,231,652 shares. The firm has a 50-day moving average of $48.38 and a 200 day moving average of $51.98. Teva Pharmaceutical Industries has a 1-year low of $41.67 and a 1-year high of $66.55. The company has a market capitalization of $39.48 billion, a P/E ratio of 28.854 and a beta of 0.74.
Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings data 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 had revenue of $5 billion for 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%. Teva Pharmaceutical Industries’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 EPS. On average, equities research analysts forecast that Teva Pharmaceutical Industries will post $5.24 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in Teva Pharmaceutical Industries by 143.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,700,812 shares of the company’s stock valued at $1,140,263,000 after buying an additional 13,385,352 shares during the period. Capital Research Global Investors increased its position in shares of Teva Pharmaceutical Industries by 49.6% in the second quarter. Capital Research Global Investors now owns 17,265,800 shares of the company’s stock worth $867,261,000 after buying an additional 5,722,500 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Teva Pharmaceutical Industries by 11.9% in the second quarter. Franklin Resources Inc. now owns 41,211,549 shares of the company’s stock worth $2,070,095,000 after buying an additional 4,389,590 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Teva Pharmaceutical Industries by 92.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,466,908 shares of the company’s stock worth $375,062,000 after buying an additional 3,594,209 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Teva Pharmaceutical Industries by 45.0% in the second quarter. Schroder Investment Management Group now owns 7,654,733 shares of the company’s stock worth $384,498,000 after buying an additional 2,375,340 shares during the last quarter. Institutional investors and hedge funds own 63.36% of the company’s stock.
About Teva Pharmaceutical Industries
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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