Oppenheimer Brokers Decrease Earnings Estimates for Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Rating) – Research analysts at Oppenheimer reduced their Q2 2022 earnings per share (EPS) estimates for Teva Pharmaceutical Industries in a report released on Wednesday, May 4th. Oppenheimer analyst L. Gershell now forecasts that the company will earn $0.57 per share for the quarter, down from their previous estimate of $0.63. Oppenheimer also issued estimates for Teva Pharmaceutical Industries’ Q3 2022 earnings at $0.62 EPS, Q4 2022 earnings at $0.67 EPS and FY2022 earnings at $2.39 EPS.

Other analysts have also issued research reports about the company. Piper Sandler lowered Teva Pharmaceutical Industries from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $11.00 to $7.00 in a research note on Wednesday. StockNews.com lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays raised Teva Pharmaceutical Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, April 5th. Sanford C. Bernstein raised Teva Pharmaceutical Industries from a “market perform” rating to an “outperform” rating and set a $11.00 price objective for the company in a research note on Friday, March 25th. Finally, Argus lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Hold” and a consensus target price of $11.14.

Shares of TEVA opened at $7.91 on Friday. The stock has a 50 day simple moving average of $8.75 and a two-hundred day simple moving average of $8.73. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 1.92. Teva Pharmaceutical Industries has a 1 year low of $7.24 and a 1 year high of $11.55.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.75 billion. Teva Pharmaceutical Industries had a positive return on equity of 23.47% and a negative net margin of 3.95%. Teva Pharmaceutical Industries’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share.

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its position in Teva Pharmaceutical Industries by 11.3% in the fourth quarter. Capital Research Global Investors now owns 132,350,750 shares of the company’s stock worth $1,060,109,000 after purchasing an additional 13,474,099 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Teva Pharmaceutical Industries by 19.6% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 19,564,520 shares of the company’s stock valued at $190,558,000 after purchasing an additional 3,210,560 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Teva Pharmaceutical Industries by 49.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,273,794 shares of the company’s stock valued at $42,240,000 after purchasing an additional 1,743,292 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Teva Pharmaceutical Industries by 7.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 21,284,555 shares of the company’s stock valued at $207,317,000 after acquiring an additional 1,494,519 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Teva Pharmaceutical Industries by 5,299.1% during the 4th quarter. Marshall Wace LLP now owns 1,049,916 shares of the company’s stock valued at $8,409,000 after acquiring an additional 1,030,470 shares during the period. 45.79% of the stock is currently owned by institutional investors.

In other Teva Pharmaceutical Industries news, EVP Sven Dethlefs sold 4,138 shares of the stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $9.06, for a total value of $37,490.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Matthew Stark sold 6,110 shares of the stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $9.06, for a total value of $55,356.60. The disclosure for this sale can be found here. Insiders sold 22,011 shares of company stock valued at $188,598 in the last ninety days. 0.74% of the stock is currently owned by insiders.

About Teva Pharmaceutical Industries (Get Rating)

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. The company offers sterile products, hormones, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams.

Further Reading

Earnings History and Estimates for Teva Pharmaceutical Industries (NYSE:TEVA)

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