Teva Pharmaceutical Industries Limited (TEVA) Upgraded at Zacks Investment Research
Teva Pharmaceutical Industries Limited (NYSE:TEVA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Pricing erosion in the U.S. generics business and the continued deterioration in Venezuela is hurting sales at Teva which led to a guidance and dividend cut in August. Teva is facing several other challenges in the form of generic competition for Copaxone, new competition for branded products and a high cost base and debt load. Also, Teva’s shares underperformed the generic industry this year so far. Nonetheless, Teva is progressing with its branded/generics drugs pipeline and is looking to strengthen its biosimilar pipeline. The Actavis Generics acquisition is contributing to growth of the Generics unit. Meanwhile, Teva is focusing on cost cutting and divestments to boost growth. However, a clear path to growth is not visible. Estimates have declined ahead of the company’s Q3 earnings release. The company also has a negative record of earnings surprises in recent quarters.”
Several other brokerages have also issued reports on TEVA. Vetr lowered Teva Pharmaceutical Industries Limited from a “buy” rating to a “hold” rating and set a $31.05 target price for the company. in a research report on Monday, June 12th. BidaskClub upgraded Teva Pharmaceutical Industries Limited from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Mizuho upgraded Teva Pharmaceutical Industries Limited from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.00 to $30.00 in a research report on Thursday, June 15th. Cantor Fitzgerald initiated coverage on Teva Pharmaceutical Industries Limited in a research note on Thursday, June 15th. They issued a “neutral” rating and a $31.00 price target on the stock. Finally, Royal Bank Of Canada set a $38.00 price target on Teva Pharmaceutical Industries Limited and gave the stock a “buy” rating in a research note on Friday, June 16th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.83.
Teva Pharmaceutical Industries Limited (NYSE TEVA) traded down 14.107% during midday trading on Wednesday, hitting $16.165. The stock had a trading volume of 64,522,026 shares. The company’s market cap is $16.42 billion. Teva Pharmaceutical Industries Limited has a 12 month low of $15.22 and a 12 month high of $45.95. The firm’s 50-day moving average price is $17.05 and its 200 day moving average price is $27.05.
Teva Pharmaceutical Industries Limited (NYSE:TEVA) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). The company had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Teva Pharmaceutical Industries Limited had a positive return on equity of 15.96% and a negative net margin of 25.18%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. On average, analysts expect that Teva Pharmaceutical Industries Limited will post $4.31 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. KBC Group NV boosted its holdings in shares of Teva Pharmaceutical Industries Limited by 22.7% in the first quarter. KBC Group NV now owns 50,684 shares of the company’s stock worth $1,627,000 after buying an additional 9,360 shares during the last quarter. American International Group Inc. bought a new stake in Teva Pharmaceutical Industries Limited during the first quarter valued at approximately $523,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Teva Pharmaceutical Industries Limited during the first quarter valued at approximately $596,000. Alliancebernstein L.P. grew its position in Teva Pharmaceutical Industries Limited by 7.3% during the first quarter. Alliancebernstein L.P. now owns 8,617,143 shares of the company’s stock valued at $276,524,000 after buying an additional 587,286 shares during the period. Finally, Oarsman Capital Inc. grew its position in Teva Pharmaceutical Industries Limited by 40.1% during the first quarter. Oarsman Capital Inc. now owns 54,460 shares of the company’s stock valued at $1,748,000 after buying an additional 15,588 shares during the period. 56.77% of the stock is owned by hedge funds and other institutional investors.
About Teva Pharmaceutical Industries Limited
Teva Pharmaceutical Industries Limited is a 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. The Company develops, manufactures and sells generic medicines in a range of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Teva Pharmaceutical Industries Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teva Pharmaceutical Industries Limited and related companies with MarketBeat.com's FREE daily email newsletter.