Teva Pharmaceutical Industries (NYSE:TEVA) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Teva Pharmaceutical Industries (NYSE:TEVA – Free Report) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks reports.

A number of other equities analysts have also recently issued reports on TEVA. TD Cowen began coverage on Teva Pharmaceutical Industries in a report on Thursday, October 1st. They issued a “buy” rating and a $55.00 target price on the stock. Weiss Ratings raised Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Oppenheimer assumed coverage on Teva Pharmaceutical Industries in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Wall Street Zen cut Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.92.

Read Our Latest Stock Analysis on TEVA

Teva Pharmaceutical Industries Trading Down 0.7%

Shares of NYSE:TEVA opened at $40.55 on Tuesday. The stock has a market capitalization of $47.25 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 3.79 and a beta of 0.89. Teva Pharmaceutical Industries has a 1-year low of $18.83 and a 1-year high of $42.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The company has a 50 day moving average price of $38.55 and a 200 day moving average price of $35.17.

Teva Pharmaceutical Industries (NYSE:TEVA – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion for the quarter. On average, research analysts anticipate that Teva Pharmaceutical Industries will post 2.00 EPS for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 367,600 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $39.06, for a total value of $14,358,456.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Savage sold 7,342 shares of Teva Pharmaceutical Industries stock in a transaction on Friday, September 18th. The shares were sold at an average price of $38.85, for a total value of $285,236.70. Following the transaction, the insider owned 8,500 shares in the company, valued at $330,225. This represents a 46.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 374,959 shares of company stock valued at $14,644,285. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sage Rhino Capital LLC increased its holdings in shares of Teva Pharmaceutical Industries by 5.6% in the 1st quarter. Sage Rhino Capital LLC now owns 7,874 shares of the company’s stock valued at $237,000 after purchasing an additional 417 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Teva Pharmaceutical Industries by 7.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,311 shares of the company’s stock worth $248,000 after purchasing an additional 483 shares during the period. First Trust Advisors LP boosted its holdings in shares of Teva Pharmaceutical Industries by 5.9% during the first quarter. First Trust Advisors LP now owns 9,619 shares of the company’s stock worth $290,000 after purchasing an additional 539 shares during the period. EverSource Wealth Advisors LLC grew its position in Teva Pharmaceutical Industries by 64.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,658 shares of the company’s stock valued at $50,000 after purchasing an additional 647 shares in the last quarter. Finally, Victrix Investment Advisors grew its position in Teva Pharmaceutical Industries by 9.5% during the second quarter. Victrix Investment Advisors now owns 7,850 shares of the company’s stock valued at $266,000 after purchasing an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

(Get Free Report)

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company is one of the world’s largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva’s portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.

Further Reading

Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

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