JPMorgan Chase & Co. Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Underweight

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $10.00 price objective on the stock, down from their previous price objective of $11.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.93% from the stock’s previous close.

TEVA has been the subject of several other reports. BMO Capital Markets lowered their price objective on Teva Pharmaceutical Industries from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Monday, November 7th. UBS Group lowered Teva Pharmaceutical Industries from a “neutral” rating to a “sell” rating in a research report on Friday, November 4th. StockNews.com initiated coverage on Teva Pharmaceutical Industries in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. The Goldman Sachs Group boosted their target price on Teva Pharmaceutical Industries from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Finally, Bank of America raised Teva Pharmaceutical Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $10.00 to $13.00 in a research report on Friday, August 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.44.

Teva Pharmaceutical Industries Stock Down 1.7 %

Shares of NYSE:TEVA opened at $9.18 on Monday. The business has a fifty day simple moving average of $8.57 and a 200 day simple moving average of $8.61. Teva Pharmaceutical Industries has a 12-month low of $6.78 and a 12-month high of $11.34. The company has a quick ratio of 0.66, a current ratio of 0.99 and a debt-to-equity ratio of 1.94. The firm has a market cap of $10.19 billion, a P/E ratio of -7.91 and a beta of 1.27.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.02). Teva Pharmaceutical Industries had a positive return on equity of 26.97% and a negative net margin of 8.52%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.86 billion. Analysts predict that Teva Pharmaceutical Industries will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, CFO Eliyahu Sharon Kalif sold 55,500 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.07, for a total value of $558,885.00. Following the transaction, the chief financial officer now owns 9,376 shares in the company, valued at approximately $94,416.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently modified their holdings of TEVA. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Teva Pharmaceutical Industries by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,543,809 shares of the company’s stock worth $23,886,000 after buying an additional 15,803 shares during the last quarter. Comerica Bank lifted its stake in Teva Pharmaceutical Industries by 4.5% in the first quarter. Comerica Bank now owns 50,689 shares of the company’s stock valued at $491,000 after purchasing an additional 2,177 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Teva Pharmaceutical Industries by 7.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 36,338 shares of the company’s stock valued at $342,000 after purchasing an additional 2,655 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Teva Pharmaceutical Industries by 13.7% in the first quarter. Daiwa Securities Group Inc. now owns 155,295 shares of the company’s stock valued at $1,458,000 after purchasing an additional 18,693 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Teva Pharmaceutical Industries by 5.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,476,727 shares of the company’s stock valued at $98,376,000 after purchasing an additional 535,000 shares during the last quarter. Hedge funds and other institutional investors own 46.22% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

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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.

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