Teva Pharmaceutical Industries Limited (TEVA) Downgraded by J P Morgan Chase & Co to “Underweight”

Teva Pharmaceutical Industries Limited (NYSE:TEVA) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $11.00 target price on the stock, down from their prior target price of $11.48. J P Morgan Chase & Co’s price objective would indicate a potential downside of 5.34% from the company’s current price.

Other research analysts also recently issued reports about the company. Credit Suisse Group set a $39.00 price target on Teva Pharmaceutical Industries Limited and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Vetr raised Teva Pharmaceutical Industries Limited from a “hold” rating to a “buy” rating and set a $34.17 price target on the stock in a research note on Monday, July 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $28.00 price objective (down previously from $43.00) on shares of Teva Pharmaceutical Industries Limited in a research report on Wednesday, August 9th. BTIG Research upgraded Teva Pharmaceutical Industries Limited from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, September 11th. Finally, Gabelli reiterated a “buy” rating on shares of Teva Pharmaceutical Industries Limited in a report on Wednesday, September 13th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $22.29.

Shares of Teva Pharmaceutical Industries Limited (NYSE TEVA) traded down $0.16 during midday trading on Monday, reaching $11.62. The company’s stock had a trading volume of 9,255,253 shares, compared to its average volume of 15,166,499. Teva Pharmaceutical Industries Limited has a 12-month low of $10.85 and a 12-month high of $41.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.96 and a quick ratio of 0.66. The firm has a market cap of $11,860.00, a price-to-earnings ratio of 2.72 and a beta of 0.52.

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Several hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new stake in shares of Teva Pharmaceutical Industries Limited during the 2nd quarter valued at $269,000. Capital One National Association bought a new position in shares of Teva Pharmaceutical Industries Limited in the 2nd quarter worth about $265,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Teva Pharmaceutical Industries Limited by 7.5% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 6,742 shares of the company’s stock worth $224,000 after acquiring an additional 469 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Teva Pharmaceutical Industries Limited by 12.8% in the 2nd quarter. Eqis Capital Management Inc. now owns 10,967 shares of the company’s stock worth $364,000 after acquiring an additional 1,246 shares in the last quarter. Finally, OLD National Bancorp IN bought a new stake in Teva Pharmaceutical Industries Limited in the 2nd quarter valued at about $329,000. 55.81% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Limited Company Profile

Teva Pharmaceutical Industries Limited is a pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. The Company develops, manufactures and sells generic medicines in a range of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams.

Analyst Recommendations for Teva Pharmaceutical Industries Limited (NYSE:TEVA)

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