Zacks Investment Research lowered shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a hold rating to a sell rating in a report released on Friday, January 12th.
According to Zacks, “Teva is facing significant challenges in the form of generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business, lower-than-expected contribution from new generic launches and a massive debt load. Also, Teva’s shares have underperformed the generic industry in the past one year. Mylan’s earlier-than-expected launch of the first generic version of the 40-mg strength of Copaxone was a major setback for Teva. Though Teva has divested some non-core assets to cut its significant debt load and aims to cut its global workforce by more than 25% over the next two years, a clear path to growth is not visible. Estimates have gone up ahead of the company’s Q4 earnings release due to expected cost savings from the restructuring plan. Teva has a negative record of earnings surprises. “
TEVA has been the topic of a number of other reports. Goldman Sachs Group upgraded Teva Pharmaceutical Industries from a neutral rating to a buy rating and set a $20.00 price objective on the stock in a report on Friday, December 15th. Credit Suisse Group restated an underperform rating and set a $8.00 price objective (down previously from $14.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, November 6th. Cantor Fitzgerald set a $18.00 price objective on Teva Pharmaceutical Industries and gave the company a hold rating in a research note on Thursday, December 28th. Royal Bank of Canada lowered their price objective on Teva Pharmaceutical Industries from $21.00 to $15.00 and set an underperform rating for the company in a research note on Monday, September 18th. Finally, Wells Fargo & Co restated a market perform rating on shares of Teva Pharmaceutical Industries in a research note on Thursday, October 5th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $21.54.
Shares of Teva Pharmaceutical Industries (TEVA) opened at $20.57 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.96 and a debt-to-equity ratio of 1.20. Teva Pharmaceutical Industries has a 52 week low of $10.85 and a 52 week high of $37.94. The stock has a market capitalization of $20,899.12, a PE ratio of 4.75, a price-to-earnings-growth ratio of 1.49 and a beta of 0.60.
Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.08). Teva Pharmaceutical Industries had a positive return on equity of 15.70% and a negative net margin of 24.35%. equities analysts predict that Teva Pharmaceutical Industries will post 3.73 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Security National Bank of Sioux City Iowa IA raised its position in shares of Teva Pharmaceutical Industries by 0.4% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,788 shares of the company’s stock worth $724,000 after purchasing an additional 87 shares during the period. Bank of Nova Scotia raised its position in shares of Teva Pharmaceutical Industries by 8.3% during the second quarter. Bank of Nova Scotia now owns 6,903 shares of the company’s stock worth $229,000 after purchasing an additional 528 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Teva Pharmaceutical Industries by 1.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 42,611 shares of the company’s stock worth $1,416,000 after purchasing an additional 611 shares during the period. Security National Bank of SO Dak raised its position in shares of Teva Pharmaceutical Industries by 3.7% during the second quarter. Security National Bank of SO Dak now owns 17,385 shares of the company’s stock worth $578,000 after purchasing an additional 620 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Teva Pharmaceutical Industries by 0.9% during the second quarter. Prudential Financial Inc. now owns 77,973 shares of the company’s stock worth $2,590,000 after purchasing an additional 730 shares during the period. 51.99% of the stock is currently owned by institutional investors.
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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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