Teva Pharmaceutical Industries Limited (NYSE:TEVA) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from a sell rating to a hold rating in a report issued on Monday, July 17th.

According to Zacks, “Teva continues to progress with its branded and generics drugs pipeline and is looking to strengthen its biosimilar pipeline. The Actavis Generics acquisition is contributing significantly to the growth of its generics business. Teva aggressively cuts costs to offset pricing erosion in the U.S. generics business. Estimates have gone up slightly ahead of the company’s Q2 earnings release. Teva has a positive record of earnings surprises in recent quarters. However, there are significant challenges for Teva in the near term as headwinds remain in the form of generic competition for Copaxone, new competition for branded products, fewer large generic opportunities, U.S. generic pricing pressure, a higher cost base and debt level and the sudden departure of its chief executive office.  Also, Teva’s shares underperformed the generic industry so far this year.”

A number of other equities analysts have also recently commented on TEVA. Vetr cut shares of Teva Pharmaceutical Industries Limited from a strong-buy rating to a buy rating and set a $31.94 price objective for the company. in a research note on Monday, May 22nd. Jefferies Group LLC reissued a hold rating and issued a $33.00 price objective on shares of Teva Pharmaceutical Industries Limited in a research note on Friday, June 23rd. CIBC reaffirmed a buy rating and set a $43.00 price target on shares of Teva Pharmaceutical Industries Limited in a research note on Friday, April 7th. Oppenheimer Holdings, Inc. set a $43.00 price target on shares of Teva Pharmaceutical Industries Limited and gave the stock a buy rating in a research note on Thursday, April 6th. Finally, Deutsche Bank AG dropped their price target on shares of Teva Pharmaceutical Industries Limited from $45.00 to $43.00 and set a buy rating for the company in a research note on Friday, May 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $37.69.

Teva Pharmaceutical Industries Limited (TEVA) opened at 17.30 on Monday. The company has a 50-day moving average of $29.64 and a 200 day moving average of $31.56. The stock’s market capitalization is $17.58 billion. Teva Pharmaceutical Industries Limited has a 12 month low of $16.81 and a 12 month high of $55.39.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. Teva Pharmaceutical Industries Limited had a negative net margin of 25.18% and a positive return on equity of 15.96%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research 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. Stockholders of record on Tuesday, August 29th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, August 25th. Teva Pharmaceutical Industries Limited’s payout ratio is -18.95%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co boosted its stake in shares of Teva Pharmaceutical Industries Limited by 71.7% in the fourth quarter. Trust Co now owns 28,569 shares of the company’s stock valued at $1,035,000 after buying an additional 11,929 shares during the period. Manning & Napier Advisors LLC boosted its stake in shares of Teva Pharmaceutical Industries Limited by 15.0% in the first quarter. Manning & Napier Advisors LLC now owns 96,678 shares of the company’s stock valued at $3,101,000 after buying an additional 12,645 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Teva Pharmaceutical Industries Limited by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 6,273 shares of the company’s stock valued at $201,000 after buying an additional 207 shares during the period. Private Asset Management Inc. boosted its stake in shares of Teva Pharmaceutical Industries Limited by 8.6% in the first quarter. Private Asset Management Inc. now owns 123,075 shares of the company’s stock valued at $3,949,000 after buying an additional 9,727 shares during the period. Finally, Park National Corp OH boosted its stake in shares of Teva Pharmaceutical Industries Limited by 7.5% in the first quarter. Park National Corp OH now owns 18,114 shares of the company’s stock valued at $582,000 after buying an additional 1,265 shares during the period. 56.27% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Limited Company Profile

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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Analyst Recommendations for Teva Pharmaceutical Industries Limited (NYSE:TEVA)

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