Guggenheim Initiates Coverage on Teva Pharmaceutical Industries (NYSE:TEVA)

Investment analysts at Guggenheim assumed coverage on shares of Teva Pharmaceutical Industries (NYSE:TEVA) in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm set a “neutral” rating on the stock.

Several other analysts have also recently commented on TEVA. Barclays started coverage on shares of Teva Pharmaceutical Industries in a research report on Tuesday, June 11th. They set an “underweight” rating and a $8.00 target price for the company. Cantor Fitzgerald dropped their target price on shares of Teva Pharmaceutical Industries from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Citigroup set a $13.00 target price on shares of Teva Pharmaceutical Industries and gave the company a “buy” rating in a research report on Monday, June 17th. Credit Suisse Group reiterated a “neutral” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, July 10th. Finally, Bank of America cut shares of Teva Pharmaceutical Industries from a “buy” rating to an “underperform” rating and dropped their target price for the company from $19.00 to $9.00 in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.80.

TEVA stock opened at $8.32 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.96 and a quick ratio of 0.62. The company has a 50 day moving average price of $7.21 and a 200 day moving average price of $11.25. Teva Pharmaceutical Industries has a fifty-two week low of $6.07 and a fifty-two week high of $25.13. The stock has a market capitalization of $8.83 billion, a PE ratio of 2.97, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 21.94% and a positive return on equity of 16.04%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the company posted $0.78 EPS. Teva Pharmaceutical Industries’s revenue was down 7.7% on a year-over-year basis. As a group, equities analysts expect that Teva Pharmaceutical Industries will post 2.25 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Teva Pharmaceutical Industries in the 2nd quarter worth $81,000. Natixis boosted its stake in Teva Pharmaceutical Industries by 245.0% in the 2nd quarter. Natixis now owns 235,274 shares of the company’s stock worth $2,172,000 after purchasing an additional 167,083 shares during the period. Magnetar Financial LLC boosted its stake in Teva Pharmaceutical Industries by 76.0% in the 2nd quarter. Magnetar Financial LLC now owns 506,900 shares of the company’s stock worth $4,679,000 after purchasing an additional 218,900 shares during the period. Voloridge Investment Management LLC acquired a new position in Teva Pharmaceutical Industries in the 2nd quarter worth $11,804,000. Finally, Nuveen Asset Management LLC acquired a new position in Teva Pharmaceutical Industries in the 2nd quarter worth $32,625,000. 57.85% of the stock is owned by institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.

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Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

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