Teva Pharmaceutical Industries (TEVA) Price Target Cut to $17.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target dropped by Wells Fargo & Co from $18.00 to $17.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “market perform” rating on the stock. Wells Fargo & Co‘s price objective indicates a potential upside of 18.38% from the company’s current price.

Several other analysts also recently issued reports on the company. Royal Bank of Canada set a $19.00 target price on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Friday, May 3rd. BMO Capital Markets set a $17.00 target price on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Friday, May 3rd. Morgan Stanley set a $16.00 target price on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Friday, May 3rd. Cantor Fitzgerald lifted their target price on Teva Pharmaceutical Industries from $16.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Maxim Group reissued a “hold” rating on shares of Teva Pharmaceutical Industries in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.53.

Shares of TEVA opened at $14.36 on Thursday. The company has a market cap of $14.71 billion, a P/E ratio of 5.13, a price-to-earnings-growth ratio of 1.81 and a beta of 1.30. Teva Pharmaceutical Industries has a 12-month low of $14.04 and a 12-month high of $25.96. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.62 and a current ratio of 0.96.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. Teva Pharmaceutical Industries had a positive return on equity of 16.84% and a negative net margin of 18.66%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, equities analysts expect that Teva Pharmaceutical Industries will post 2.27 EPS for the current year.

In other Teva Pharmaceutical Industries news, VP Richard Daniell sold 2,098 shares of Teva Pharmaceutical Industries stock in a transaction on Monday, March 4th. The stock was sold at an average price of $16.88, for a total transaction of $35,414.24. Following the completion of the sale, the vice president now directly owns 2,098 shares of the company’s stock, valued at approximately $35,414.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deborah A. Griffin sold 4,107 shares of Teva Pharmaceutical Industries stock in a transaction on Monday, March 4th. The shares were sold at an average price of $16.88, for a total value of $69,326.16. Following the sale, the insider now directly owns 2,941 shares of the company’s stock, valued at $49,644.08. The disclosure for this sale can be found here. Insiders have sold a total of 16,691 shares of company stock valued at $283,458 in the last 90 days. 0.49% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bruderman Asset Management LLC grew its position in shares of Teva Pharmaceutical Industries by 2,175.0% in the fourth quarter. Bruderman Asset Management LLC now owns 2,366 shares of the company’s stock valued at $36,000 after purchasing an additional 2,262 shares in the last quarter. Lindbrook Capital LLC raised its stake in Teva Pharmaceutical Industries by 61.2% in the first quarter. Lindbrook Capital LLC now owns 2,489 shares of the company’s stock valued at $39,000 after buying an additional 945 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at $40,000. Rational Advisors LLC acquired a new stake in Teva Pharmaceutical Industries in the fourth quarter valued at $49,000. Finally, Edgemoor Investment Advisors Inc. acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at $54,000. 67.01% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

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