BMO Capital Markets Trims Teva Pharmaceutical Industries (NYSE:TEVA) Target Price to $9.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price trimmed by BMO Capital Markets from $11.00 to $9.00 in a report published on Friday, BenzingaRatingsTable reports. They currently have a market perform rating on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Co set a $17.00 price target on Teva Pharmaceutical Industries and gave the company a hold rating in a research report on Tuesday, May 28th. Citigroup set a $13.00 price target on Teva Pharmaceutical Industries and gave the company a buy rating in a research report on Monday, June 17th. Raymond James dropped their price target on Teva Pharmaceutical Industries from $22.00 to $15.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada restated a hold rating and issued a $10.00 target price on shares of Teva Pharmaceutical Industries in a research note on Thursday, August 8th. Finally, Barclays initiated coverage on Teva Pharmaceutical Industries in a research note on Tuesday, June 11th. They issued an underweight rating and a $8.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned 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 price target of $13.21.

NYSE:TEVA opened at $7.02 on Friday. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 2.51, a price-to-earnings-growth ratio of 0.76 and a beta of 1.64. Teva Pharmaceutical Industries has a 1-year low of $6.34 and a 1-year high of $25.96. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 1.73. The company’s fifty day simple moving average is $8.32.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.25 billion. Teva Pharmaceutical Industries had a positive return on equity of 16.04% and a negative net margin of 21.94%. Teva Pharmaceutical Industries’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.26 earnings per share for the current year.

In related news, Director Sol J. Barer purchased 111,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $8.98 per share, for a total transaction of $996,780.00. Following the purchase, the director now owns 115,942 shares in the company, valued at approximately $1,041,159.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Notaristefani Carlo De sold 16,070 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.42, for a total value of $183,519.40. Following the sale, the vice president now owns 49,659 shares of the company’s stock, valued at approximately $567,105.78. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEVA. Renaissance Technologies LLC boosted its stake in shares of Teva Pharmaceutical Industries by 272.6% during the 2nd quarter. Renaissance Technologies LLC now owns 9,786,063 shares of the company’s stock worth $90,325,000 after acquiring an additional 7,159,900 shares in the last quarter. Strs Ohio boosted its stake in shares of Teva Pharmaceutical Industries by 1,909.4% during the 2nd quarter. Strs Ohio now owns 1,651,700 shares of the company’s stock worth $15,245,000 after acquiring an additional 1,569,500 shares in the last quarter. Redmile Group LLC boosted its stake in shares of Teva Pharmaceutical Industries by 72.1% during the 1st quarter. Redmile Group LLC now owns 3,147,000 shares of the company’s stock worth $49,345,000 after acquiring an additional 1,318,100 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its stake in shares of Teva Pharmaceutical Industries by 60.4% during the 2nd quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 3,237,626 shares of the company’s stock worth $29,883,000 after acquiring an additional 1,218,700 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Teva Pharmaceutical Industries by 434.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,353,935 shares of the company’s stock worth $12,496,000 after acquiring an additional 1,100,481 shares in the last quarter. Institutional investors own 65.69% 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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