Zacks Investment Research upgraded shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from a strong sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Pricing erosion in the U.S. generics business and the continued deterioration in Venezuela is hurting sales at Teva which led to a guidance and dividend cut in August. Teva is facing several other challenges in the form of generic competition for Copaxone, new competition for branded products and a high cost base and debt load. Also, Teva’s shares underperformed the generic industry this year so far. Nonetheless, Teva is progressing with its branded/generics drugs pipeline and is looking to strengthen its biosimilar pipeline. The Actavis Generics acquisition is contributing to growth of the Generics unit. Meanwhile, Teva is focusing on cost cutting and divestments to boost growth. However, a clear path to growth is not visible. Estimates have declined ahead of the company’s Q3 earnings release. The company also has a negative record of earnings surprises in recent quarters.”

TEVA has been the subject of several other reports. Royal Bank Of Canada reduced their price objective on Teva Pharmaceutical Industries Limited from $21.00 to $15.00 and set an underperform rating for the company in a report on Monday, September 18th. Credit Suisse Group set a $39.00 price objective on Teva Pharmaceutical Industries Limited and gave the company a buy rating in a report on Thursday, August 3rd. Maxim Group reissued a hold rating and set a $15.50 price objective on shares of Teva Pharmaceutical Industries Limited in a report on Thursday, September 14th. Cantor Fitzgerald set a $31.00 price objective on Teva Pharmaceutical Industries Limited and gave the company a hold rating in a report on Thursday, June 22nd. Finally, Vetr raised Teva Pharmaceutical Industries Limited from a hold rating to a buy rating and set a $34.17 price objective for the company in a report on Monday, July 24th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $28.72.

Shares of Teva Pharmaceutical Industries Limited (TEVA) opened at 15.94 on Wednesday. The firm has a 50-day moving average of $16.91 and a 200 day moving average of $26.76. Teva Pharmaceutical Industries Limited has a 52 week low of $15.22 and a 52 week high of $45.85. The stock’s market cap is $16.20 billion. Teva Pharmaceutical Industries Limited also was the target of some unusual options trading on Wednesday. Investors acquired 29,656 put options on the stock. This is an increase of 231% compared to the typical volume of 8,957 put options.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.07). Teva Pharmaceutical Industries Limited had a negative net margin of 25.18% and a positive return on equity of 15.96%. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company posted $1.25 earnings per share. Teva Pharmaceutical Industries Limited’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Teva Pharmaceutical Industries Limited will post $4.28 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 29th were paid a dividend of $0.085 per share. The ex-dividend date was Friday, August 25th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.13%. Teva Pharmaceutical Industries Limited’s dividend payout ratio (DPR) is currently -15.36%.

Large investors have recently made changes to their positions in the company. Greylin Investment Mangement Inc. grew its stake in shares of Teva Pharmaceutical Industries Limited by 36.9% during the second quarter. Greylin Investment Mangement Inc. now owns 294,495 shares of the company’s stock valued at $9,783,000 after buying an additional 79,300 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Teva Pharmaceutical Industries Limited by 5.7% during the second quarter. Financial Counselors Inc. now owns 140,599 shares of the company’s stock valued at $4,671,000 after buying an additional 7,571 shares during the last quarter. PGGM Investments grew its stake in shares of Teva Pharmaceutical Industries Limited by 12.0% during the second quarter. PGGM Investments now owns 1,528,097 shares of the company’s stock valued at $50,763,000 after buying an additional 163,292 shares during the last quarter. GAM Holding AG grew its stake in shares of Teva Pharmaceutical Industries Limited by 23.2% during the second quarter. GAM Holding AG now owns 41,900 shares of the company’s stock valued at $1,392,000 after buying an additional 7,900 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Teva Pharmaceutical Industries Limited by 34,112.9% during the second quarter. Federated Investors Inc. PA now owns 228,542 shares of the company’s stock valued at $7,592,000 after buying an additional 227,874 shares during the last quarter. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

About Teva Pharmaceutical Industries Limited

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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