Cowen Reiterates “$9.00” Price Target for Teva Pharmaceutical Industries (NYSE:TEVA)

Cowen set a $9.00 price objective on Teva Pharmaceutical Industries (NYSE:TEVA) in a research report report published on Wednesday, TipRanks reports. The brokerage currently has a hold rating on the stock.

TEVA has been the subject of a number of other reports. Morgan Stanley cut shares of Teva Pharmaceutical Industries from an equal weight rating to an underweight rating and reduced their price objective for the stock from $16.00 to $6.00 in a research note on Monday, July 15th. Barclays started coverage on shares of Teva Pharmaceutical Industries in a research note on Tuesday, June 11th. They issued an underweight rating and a $8.00 price objective for the company. SunTrust Banks reduced their price objective on shares of Teva Pharmaceutical Industries to $7.00 and set a hold rating for the company in a research note on Thursday. Citigroup set a $13.00 price objective on shares of Teva Pharmaceutical Industries and gave the stock a buy rating in a research note on Monday, June 17th. Finally, Royal Bank of Canada reissued a hold rating and issued a $10.00 price objective on shares of Teva Pharmaceutical Industries in a research note on Thursday. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Teva Pharmaceutical Industries presently has a consensus rating of Hold and a consensus price target of $13.21.

TEVA stock traded down $0.27 during midday trading on Wednesday, reaching $7.02. 19,402,224 shares of the company’s stock traded hands, compared to its average volume of 22,598,402. Teva Pharmaceutical Industries has a 52-week low of $6.34 and a 52-week high of $25.96. The company has a market cap of $7.41 billion, a PE ratio of 2.51, a P/E/G ratio of 0.76 and a beta of 1.64. The company has a current ratio of 0.96, a quick ratio of 0.62 and a debt-to-equity ratio of 1.73. The stock’s 50-day moving average is $8.40.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Teva Pharmaceutical Industries had a negative net margin of 21.94% and a positive return on equity of 16.04%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. Sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.26 earnings per share for the current fiscal year.

In other Teva Pharmaceutical Industries news, VP Notaristefani Carlo De sold 16,070 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $11.42, for a total transaction of $183,519.40. Following the completion of the transaction, the vice president now owns 49,659 shares in the company, valued at $567,105.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sol J. Barer acquired 111,000 shares of the stock in a transaction on Monday, June 3rd. The shares were acquired at an average price of $8.98 per share, with a total value of $996,780.00. Following the transaction, the director now directly owns 115,942 shares of the company’s stock, valued at $1,041,159.16. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TEVA. Charles Schwab Investment Management Inc. increased its stake in Teva Pharmaceutical Industries by 15.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 394,805 shares of the company’s stock worth $3,645,000 after buying an additional 53,963 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Teva Pharmaceutical Industries by 1.0% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 815,921 shares of the company’s stock worth $7,531,000 after buying an additional 8,235 shares during the period. Fortem Financial Group LLC purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth about $408,000. Skandinaviska Enskilda Banken AB publ increased its stake in Teva Pharmaceutical Industries by 8.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 234,920 shares of the company’s stock worth $2,169,000 after buying an additional 18,055 shares during the period. Finally, Cutler Capital Management LLC increased its stake in Teva Pharmaceutical Industries by 19.2% in the 2nd quarter. Cutler Capital Management LLC now owns 106,697 shares of the company’s stock worth $984,000 after buying an additional 17,169 shares during the period. Institutional investors and hedge funds own 65.69% of the company’s stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.

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Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

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