Teva Pharmaceutical Industries (NYSE:TEVA) Stock Gets Downgrade from Zacks Research

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Leerink Partners assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price on the stock. Weiss Ratings raised shares of Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Oppenheimer began coverage on shares of Teva Pharmaceutical Industries in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 price target for the company. Finally, TD Cowen initiated coverage on shares of Teva Pharmaceutical Industries in a report on Thursday, October 1st. They issued a “buy” rating and a $55.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and a consensus price target of $45.92.

Teva Pharmaceutical Industries Stock Down 0.7%

NYSE TEVA opened at $40.55 on Tuesday. The stock’s 50 day simple moving average is $38.55 and its 200 day simple moving average is $35.17. Teva Pharmaceutical Industries has a one year low of $18.83 and a one year high of $42.02. The firm has a market cap of $47.25 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.89. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. As a group, sell-side analysts forecast that Teva Pharmaceutical Industries will post 2.00 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian Savage sold 7,342 shares of the stock in a transaction on Friday, September 18th. The stock was 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 of the company’s stock, valued at $330,225. This represents a 46.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 374,959 shares of company stock worth $14,644,285. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $33,000. Magnus Financial Group LLC grew its stake in Teva Pharmaceutical Industries by 4.1% in the third quarter. Magnus Financial Group LLC now owns 39,596 shares of the company’s stock valued at $1,568,000 after acquiring an additional 1,562 shares during the period. Quadrant Capital Group LLC grew its stake in Teva Pharmaceutical Industries by 5.6% in the third quarter. Quadrant Capital Group LLC now owns 24,860 shares of the company’s stock valued at $1,025,000 after acquiring an additional 1,309 shares during the period. Diversify Advisory Services LLC increased its holdings in shares of Teva Pharmaceutical Industries by 7.6% in the third quarter. Diversify Advisory Services LLC now owns 76,091 shares of the company’s stock worth $3,128,000 after acquiring an additional 5,378 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Teva Pharmaceutical Industries by 9.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 128,047 shares of the company’s stock worth $5,071,000 after acquiring an additional 10,864 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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.