Zacks Investment Research upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a hold rating to a buy rating in a research note published on Monday morning. Zacks Investment Research currently has $24.00 price target on the stock.
According to Zacks, “Teva is facing significant challenges in the form of accelerated generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business and a massive debt load. Nonetheless, Teva has a new organizational structure in place, is closing plants, cutting down its generics portfolio, divesting non-core assets, eliminating low-value R&D projects, and is reducing global workforce to revive growth. Teva expects to save almost $3 billion by the end of 2019 from these initiatives. Its financial position seems more stable than before as it is regularly paying down debt and there are signs of stabilization in U.S. generic drug pricing. Its newest drugs, Austedo and Ajovy, could emerge as significant contributors to long-term sales growth. Teva’s shares have outperformed the generic industry this year so far. “
TEVA has been the subject of several other research reports. Mizuho lifted their price target on shares of Teva Pharmaceutical Industries from $28.00 to $29.00 and gave the company a buy rating in a research report on Monday, September 17th. Wells Fargo & Co set a $23.00 price target on shares of Teva Pharmaceutical Industries and gave the company a hold rating in a research report on Monday, September 17th. Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $19.00 to $20.00 and gave the company an underperform rating in a research report on Friday, November 2nd. Cantor Fitzgerald set a $25.00 price objective on Teva Pharmaceutical Industries and gave the company a hold rating in a research note on Friday, September 14th. Finally, Goldman Sachs Group upgraded Teva Pharmaceutical Industries from a buy rating to a conviction-buy rating and set a $30.00 price objective on the stock in a research note on Monday, October 1st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Teva Pharmaceutical Industries currently has a consensus rating of Hold and a consensus target price of $21.94.
Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.54 billion. Teva Pharmaceutical Industries had a negative net margin of 54.67% and a positive return on equity of 21.83%. The company’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. On average, sell-side analysts expect that Teva Pharmaceutical Industries will post 2.82 earnings per share for the current fiscal year.
In other Teva Pharmaceutical Industries news, insider Deborah A. Griffin sold 2,376 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $23.71, for a total transaction of $56,334.96. Following the transaction, the insider now directly owns 2,376 shares in the company, valued at approximately $56,334.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Daniell sold 2,488 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $23.69, for a total value of $58,940.72. Following the transaction, the vice president now owns 2,488 shares in the company, valued at $58,940.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,531 shares of company stock worth $152,749. Company insiders own 0.43% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. Eqis Capital Management Inc. acquired a new position in shares of Teva Pharmaceutical Industries during the 2nd quarter worth approximately $501,000. Aperio Group LLC raised its position in shares of Teva Pharmaceutical Industries by 25.4% during the 2nd quarter. Aperio Group LLC now owns 366,220 shares of the company’s stock worth $8,906,000 after purchasing an additional 74,131 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Teva Pharmaceutical Industries by 25.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 83,473 shares of the company’s stock worth $2,030,000 after purchasing an additional 16,946 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Teva Pharmaceutical Industries by 7.5% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 61,447 shares of the company’s stock worth $1,494,000 after purchasing an additional 4,310 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Teva Pharmaceutical Industries by 10.3% during the 2nd quarter. TD Asset Management Inc. now owns 270,280 shares of the company’s stock worth $6,573,000 after purchasing an additional 25,200 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.
Teva Pharmaceutical Industries Company Profile
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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