Teva Pharmaceutical Industries Limited (TEVA) Earns Hold Rating from Maxim Group
Teva Pharmaceutical Industries Limited (NYSE:TEVA)‘s stock had its “hold” rating restated by stock analysts at Maxim Group in a report issued on Wednesday.
The analysts wrote, “Shares of TEVA are under pressure in the wake of the FDA’s approval of Mylan’s ANDA for generic copaxone 3x/week & 20 mg/ml QD injection. Teva has a press release estimating the impact of the two launches to its 4Q earnings of at least $0.25. Our estimates are under review but our Hold remaining remains in-effect. We had anticipated generic copaxone (3x) but not until 2018.””
A number of other research analysts also recently issued reports on TEVA. Zacks Investment Research upgraded shares of Teva Pharmaceutical Industries Limited from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Teva Pharmaceutical Industries Limited in a research report on Wednesday. Mizuho reissued a “hold” rating and issued a $16.00 price objective on shares of Teva Pharmaceutical Industries Limited in a research report on Wednesday. Barclays PLC reduced their price objective on shares of Teva Pharmaceutical Industries Limited from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, BTIG Research restated a “buy” rating and issued a $24.00 price objective on shares of Teva Pharmaceutical Industries Limited in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.83.
Shares of Teva Pharmaceutical Industries Limited (TEVA) traded down 14.56% during trading on Wednesday, hitting $16.08. The stock had a trading volume of 78,842,847 shares. The stock’s market cap is $16.34 billion. Teva Pharmaceutical Industries Limited has a one year low of $15.22 and a one year high of $45.95. The stock’s 50 day moving average price is $17.05 and its 200-day moving average price is $27.05.
Teva Pharmaceutical Industries Limited (NYSE:TEVA) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). Teva Pharmaceutical Industries Limited had a positive return on equity of 15.96% and a negative net margin of 25.18%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts expect that Teva Pharmaceutical Industries Limited will post $4.31 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its holdings in Teva Pharmaceutical Industries Limited by 13.8% during the second quarter. Capital Research Global Investors now owns 76,325,059 shares of the company’s stock worth $2,535,518,000 after acquiring an additional 9,260,426 shares during the period. Franklin Resources Inc. raised its position in Teva Pharmaceutical Industries Limited by 11.1% in the second quarter. Franklin Resources Inc. now owns 66,796,897 shares of the company’s stock worth $2,218,958,000 after acquiring an additional 6,685,844 shares in the last quarter. FMR LLC raised its position in Teva Pharmaceutical Industries Limited by 16.7% in the second quarter. FMR LLC now owns 42,844,979 shares of the company’s stock worth $1,423,310,000 after acquiring an additional 6,115,853 shares in the last quarter. Capital World Investors raised its position in Teva Pharmaceutical Industries Limited by 41.9% in the second quarter. Capital World Investors now owns 11,068,200 shares of the company’s stock worth $367,686,000 after acquiring an additional 3,268,200 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Teva Pharmaceutical Industries Limited by 32.3% in the second quarter. Alliancebernstein L.P. now owns 11,399,400 shares of the company’s stock valued at $378,688,000 after acquiring an additional 2,782,257 shares during the period. Hedge funds and other institutional investors own 56.77% of the company’s stock.
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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