TheStreet Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to D+

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

TEVA has been the subject of several other research reports. UBS Group reissued a “neutral” rating and issued a $11.00 price target (down previously from $15.00) on shares of Teva Pharmaceutical Industries in a report on Monday, May 10th. JPMorgan Chase & Co. reissued a “hold” rating and set a $10.00 price target on shares of Teva Pharmaceutical Industries in a research report on Sunday, March 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $11.08.

TEVA stock opened at $11.53 on Wednesday. Teva Pharmaceutical Industries has a 52 week low of $8.44 and a 52 week high of $13.30. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of -3.18, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a quick ratio of 0.66, a current ratio of 1.03 and a debt-to-equity ratio of 2.03. The company’s fifty day simple moving average is $10.63.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, April 28th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Teva Pharmaceutical Industries had a negative net margin of 24.45% and a positive return on equity of 21.65%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. Research analysts anticipate that Teva Pharmaceutical Industries will post 2.54 EPS for the current fiscal year.

In other news, VP David Matthew Stark sold 37,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $10.22, for a total value of $387,174.48. Following the completion of the sale, the vice president now directly owns 40,858 shares in the company, valued at approximately $417,568.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric Drape sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $11.01, for a total value of $440,400.00. Following the completion of the sale, the vice president now owns 33,128 shares of the company’s stock, valued at $364,739.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,128 shares of company stock worth $2,255,252. 0.56% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $29,732,000. Vontobel Holding Ltd. bought a new stake in Teva Pharmaceutical Industries during the 4th quarter valued at approximately $39,104,000. BlackRock Inc. boosted its stake in Teva Pharmaceutical Industries by 7.8% during the 1st quarter. BlackRock Inc. now owns 41,984,453 shares of the company’s stock valued at $484,500,000 after purchasing an additional 3,038,989 shares during the period. Phoenix Holdings Ltd. raised its holdings in Teva Pharmaceutical Industries by 34.2% in the 1st quarter. Phoenix Holdings Ltd. now owns 11,576,133 shares of the company’s stock valued at $133,565,000 after acquiring an additional 2,952,046 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Teva Pharmaceutical Industries by 470.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,227,742 shares of the company’s stock valued at $37,248,000 after acquiring an additional 2,662,358 shares in the last quarter. 52.60% of the stock is currently owned by institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. The company offers sterile products, hormones, 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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