Teva Pharmaceutical Industries Limited (TEVA) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from a buy rating to a hold rating in a report published on Tuesday, July 11th.

Several other research firms have also weighed in on TEVA. Oppenheimer Holdings, Inc. set a $43.00 target price on shares of Teva Pharmaceutical Industries Limited and gave the company a buy rating in a report on Thursday, April 6th. Cantor Fitzgerald set a $31.00 target price on shares of Teva Pharmaceutical Industries Limited and gave the company a hold rating in a report on Thursday, June 22nd. Credit Suisse Group restated a buy rating and set a $39.00 target price on shares of Teva Pharmaceutical Industries Limited in a report on Wednesday, May 17th. Vetr upgraded shares of Teva Pharmaceutical Industries Limited from a hold rating to a buy rating and set a $33.12 target price on the stock in a report on Tuesday, May 2nd. Finally, Deutsche Bank AG reduced their target price on shares of Teva Pharmaceutical Industries Limited from $45.00 to $43.00 and set a buy rating on the stock in a report on Friday, May 12th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Teva Pharmaceutical Industries Limited currently has an average rating of Hold and a consensus target price of $37.69.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) traded up 0.64% during midday trading on Tuesday, hitting $17.30. The stock had a trading volume of 25,100,576 shares. Teva Pharmaceutical Industries Limited has a 12-month low of $16.81 and a 12-month high of $55.39. The firm’s market cap is $17.58 billion. The stock has a 50-day moving average price of $29.64 and a 200 day moving average price of $31.56.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Teva Pharmaceutical Industries Limited had a negative net margin of 25.18% and a positive return on equity of 15.96%. The company had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Teva Pharmaceutical Industries Limited will post $4.32 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 29th will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, August 25th. Teva Pharmaceutical Industries Limited’s dividend payout ratio is presently -18.95%.

Large investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in shares of Teva Pharmaceutical Industries Limited by 11.1% in the second quarter. Franklin Resources Inc. now owns 66,796,897 shares of the company’s stock worth $2,218,958,000 after buying an additional 6,685,844 shares in the last quarter. FMR LLC increased its stake in shares of Teva Pharmaceutical Industries Limited by 16.7% in the second quarter. FMR LLC now owns 42,844,979 shares of the company’s stock worth $1,423,310,000 after buying an additional 6,115,853 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Teva Pharmaceutical Industries Limited by 32.3% in the second quarter. Alliancebernstein L.P. now owns 11,399,400 shares of the company’s stock worth $378,688,000 after buying an additional 2,782,257 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Teva Pharmaceutical Industries Limited by 122.4% in the first quarter. Renaissance Technologies LLC now owns 4,817,763 shares of the company’s stock worth $154,602,000 after buying an additional 2,651,900 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in Teva Pharmaceutical Industries Limited by 405,409.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,435,505 shares of the company’s stock valued at $46,065,000 after buying an additional 1,435,151 shares during the period. 56.27% of the stock is owned by institutional investors and hedge funds.

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.

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