Brokers Issue Forecasts for Teva Pharmaceutical Industries Ltd’s Q3 2018 Earnings (TEVA)

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) – Analysts at Leerink Swann lowered their Q3 2018 earnings per share (EPS) estimates for shares of Teva Pharmaceutical Industries in a research report issued to clients and investors on Monday, October 15th. Leerink Swann analyst A. Fadia now expects that the company will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.56. Leerink Swann currently has a “Market Perform” rating and a $24.00 price target on the stock. Leerink Swann also issued estimates for Teva Pharmaceutical Industries’ FY2022 earnings at $2.90 EPS.

Several other equities research analysts have also weighed in on TEVA. Goldman Sachs Group boosted their target price on Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Citigroup boosted their target price on Teva Pharmaceutical Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, July 9th. Cantor Fitzgerald set a $25.00 target price on Teva Pharmaceutical Industries and gave the stock a “hold” rating in a report on Friday, July 13th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $19.00 target price on shares of Teva Pharmaceutical Industries in a report on Tuesday, July 31st. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.68.

TEVA opened at $21.27 on Wednesday. Teva Pharmaceutical Industries has a twelve month low of $10.85 and a twelve month high of $25.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.03 and a quick ratio of 0.69. The company has a market capitalization of $21.90 billion, a P/E ratio of 5.41, a P/E/G ratio of 1.61 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Thursday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. Teva Pharmaceutical Industries had a positive return on equity of 19.92% and a negative net margin of 47.98%. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the company earned $1.02 EPS. The company’s revenue for the quarter was down 17.8% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. increased its position in shares of Teva Pharmaceutical Industries by 11.0% during the second quarter. Pinnacle Associates Ltd. now owns 22,862 shares of the company’s stock valued at $556,000 after purchasing an additional 2,272 shares during the period. ARK Investment Management LLC increased its position in shares of Teva Pharmaceutical Industries by 9.2% during the second quarter. ARK Investment Management LLC now owns 30,487 shares of the company’s stock valued at $741,000 after purchasing an additional 2,561 shares during the period. HPM Partners LLC increased its position in shares of Teva Pharmaceutical Industries by 25.4% during the second quarter. HPM Partners LLC now owns 14,657 shares of the company’s stock valued at $356,000 after purchasing an additional 2,971 shares during the period. Point View Wealth Management Inc. increased its position in shares of Teva Pharmaceutical Industries by 4.4% during the second quarter. Point View Wealth Management Inc. now owns 71,603 shares of the company’s stock valued at $1,741,000 after purchasing an additional 2,996 shares during the period. Finally, Cornerstone Investment Partners LLC increased its position in shares of Teva Pharmaceutical Industries by 19.6% during the second quarter. Cornerstone Investment Partners LLC now owns 18,300 shares of the company’s stock valued at $445,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

In other news, EVP Iris Beck Codner sold 4,165 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $22.70, for a total transaction of $94,545.50. Following the sale, the executive vice president now directly owns 8,290 shares in the company, valued at $188,183. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sven Dethlefs acquired 2,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were purchased at an average price of $21.92 per share, for a total transaction of $43,840.00. Following the completion of the transaction, the executive vice president now owns 6,445 shares of the company’s stock, valued at approximately $141,274.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 10,350 shares of company stock worth $239,430. Company insiders own 0.43% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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

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