Teva Pharmaceutical Industries’ (TEVA) Hold Rating Reaffirmed at Cantor Fitzgerald
Teva Pharmaceutical Industries (NYSE:TEVA)‘s stock had its “hold” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Thursday. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s price target would suggest a potential downside of 36.31% from the company’s current price.
The analysts wrote, “This morning Teva announced more details of its new strategic plan under CEO Kare Schultz, including the layoff of 14,000 people. This is meaningfully above the Street’s estimate of 10,000 jobs.””
A number of other research analysts have also recently issued reports on the company. BTIG Research raised Teva Pharmaceutical Industries from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, September 11th. TheStreet cut Teva Pharmaceutical Industries from a “c-” rating to a “d+” rating in a report on Friday, August 25th. Credit Suisse Group reissued an “underperform” rating and set a $8.00 price objective (down from $14.00) on shares of Teva Pharmaceutical Industries in a report on Monday, November 6th. Royal Bank of Canada set a $11.00 price objective on Teva Pharmaceutical Industries and gave the company a “sell” rating in a report on Wednesday, November 29th. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $21.00 price objective (down from $28.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, August 31st. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.18.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $171,000. Arthur Zaske & Associates LLC bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $372,000. Sterling Capital Management LLC bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $263,000. Point72 Asset Management L.P. bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $2,200,000. Finally, Chevy Chase Trust Holdings Inc. boosted its holdings in Teva Pharmaceutical Industries by 81.5% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 12,239 shares of the company’s stock worth $215,000 after buying an additional 5,497 shares during the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.
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About Teva Pharmaceutical Industries
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.
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