Mizuho Downgrades the shares of Teva Pharmaceutical Industries (TEVA) to Underperform
Teva, the world's biggest generic drug maker, was left without a permanent chief last week after Vigodman, an industry outsider, stepped down following a string of costly acquisitions and delayed drug launches which sent its shares to their lowest in more than 10 years.
Teva Pharmaceutical Industries Limited (NYSE:TEVA) last issued its quarterly earnings results on Monday, February 13th. Global sales of its best-selling branded multiple sclerosis drug Copaxone (glatiramer acetate) rose 6% in the quarter to $1.0 billion. Analysts expect the company to report profit per share of $4.83 on revenue of $23.69 billion. JFS Wealth Advisors LLC now owns 2,495 shares of the company's stock valued at $115,000 after buying an additional 1,451 shares in the last quarter. The company's quarterly revenue was up 33.0% on a year-over-year basis. Excluding certain items, per-share earnings were $1.38, up from $1.28 a share in the prior-year quarter. For the current year Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has set to release EPS of $5.11 as per the sentiments of 28 analysts, however according to 24 analysts, the company expected to release $4.83 EPS for next year. The stock stands -8.83% below the average-price of 50 days and -4.25% compared with the SMA 20.
The company reported Earnings per Share (EPS) of $1.38 in the fourth quarter, better than what analysts estimates ($1.36). The firm has a market cap of $32.67 billion, a P/E ratio of 18.73 and a beta of 0.58. Mizuho lowered Teva Pharmaceutical Industries Limited from a buy rating to an underperform rating and dropped their price target for the company from $40.00 to $27.00 in a research report on Friday.
Price Target is basically a projection of future price of a company's stock by the expert analysis of investment analysts or investment firms. Morgan Stanley Downgrades Teva Pharmaceutical Industries Limited (NYSE:TEVA) to Equal-Weight with a price target of $42. Maxim Group restated a buy rating and issued a $52.00 target price (down from $72.00) on shares of Teva Pharmaceutical Industries Limited in a research note on Wednesday, November 16th. Finally, Oppenheimer Holdings, Inc. restated an "outperform" rating on shares of Teva Pharmaceutical Industries Limited in a research report on Wednesday, December 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock.
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Analysts polled by Thomson Reuters had expected earnings of $1.35 a share on $6.28 billion in revenue. Teva Pharmaceutical Industries Limited had a net margin of 8.81% and a return on equity of 16.75%. The company has an average rating of "Buy" and a consensus price target of $53.88. Investors of record on Thursday, March 2nd will be paid a $0.34 dividend. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/02/14/teva-pharmaceutical-industries-limited-teva-price-target-lowered-to-33-00-at-jefferies-group-llc.html. Teva Pharmaceutical Industries Limited's dividend payout ratio is presently 67.44%.
Teva may also opt to sell other non-core assets, such as its active pharmaceutical ingredients business, the people said. "While we continue to manage through a turbulent and constantly evolving industry, we are committed to execute against our strategy with more diversified revenue sources and profit streams, all backed by strong product development engines in both generics and specialty".
Revenue in its generic medicine segment grew 44% to $2.57 billion, largely due to the Allergan deal. It has a global portfolio of approximately 1,000 molecules.
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