Zacks Investment Research lowered shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) from a hold rating to a sell rating in a report published 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. reaffirmed an overweight rating on shares of Teva Pharmaceutical Industries in a report on Saturday, June 25th. Royal Bank Of Canada lowered 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 report on Tuesday, July 12th. Jefferies Group reduced their price objective on shares of Teva Pharmaceutical Industries from $72.00 to $69.00 and set a buy rating for the company in a research report on Thursday, July 14th. Oppenheimer Holdings Inc. reduced their price objective on shares of Teva Pharmaceutical Industries from $77.00 to $72.00 and set an outperform rating for the company 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 reduced their price objective for the stock from $70.00 to $60.00 in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $66.98.
Shares of Teva Pharmaceutical Industries (NYSE:TEVA) traded up 0.66% during mid-day trading on Wednesday, reaching $44.41. 2,366,078 shares of the company’s stock were exchanged. The stock has a market capitalization of $40.59 billion, a PE ratio of 29.67 and a beta of 0.74. The company’s 50 day moving average is $49.32 and its 200 day moving average is $52.31. Teva Pharmaceutical Industries has a 1-year low of $43.80 and a 1-year high of $66.55.
Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.20 by $0.05. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.86 billion. Teva Pharmaceutical Industries had a net margin of 7.56% and a return on equity of 17.77%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 EPS. Equities research analysts anticipate that Teva Pharmaceutical Industries will post $5.24 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in TEVA. Mariner Wealth Advisors LLC bought a new stake in Teva Pharmaceutical Industries during the first quarter worth $237,000. OLD Mission Capital LLC boosted its stake in Teva Pharmaceutical Industries by 391.4% in the first quarter. OLD Mission Capital LLC now owns 199,385 shares of the company’s stock worth $10,669,000 after buying an additional 158,810 shares during the last quarter. Simmons Bank bought a new stake in Teva Pharmaceutical Industries during the first quarter worth $2,210,000. Loomis Sayles & Co. L P boosted its stake in Teva Pharmaceutical Industries by 9.9% in the first quarter. Loomis Sayles & Co. L P now owns 1,089,005 shares of the company’s stock worth $58,272,000 after buying an additional 98,352 shares during the last quarter. Finally, Parametric Risk Advisors LLC boosted its stake in Teva Pharmaceutical Industries by 18.8% in the first quarter. Parametric Risk Advisors LLC now owns 190,000 shares of the company’s stock worth $10,167,000 after buying an additional 30,000 shares during the last quarter. 63.35% of the stock is currently 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.