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

J P Morgan Chase & Co downgraded shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from a neutral rating to an underweight rating in a report published on Monday morning. The firm currently has $11.00 price objective on the stock, down from their previous price objective of $11.48.

A number of other research firms have also recently weighed in on TEVA. Jefferies Group LLC restated a hold rating on shares of Teva Pharmaceutical Industries Limited in a report on Tuesday, July 25th. Vetr upgraded Teva Pharmaceutical Industries Limited from a hold rating to a buy rating and set a $34.17 price target on the stock in a report on Monday, July 24th. Zacks Investment Research upgraded Teva Pharmaceutical Industries Limited from a sell rating to a hold rating in a report on Monday, July 17th. Royal Bank Of Canada restated an outperform rating and issued a $37.00 price target (down previously from $38.00) on shares of Teva Pharmaceutical Industries Limited in a report on Monday, July 17th. Finally, Mizuho restated a hold rating and issued a $30.00 price target on shares of Teva Pharmaceutical Industries Limited in a report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $21.99.

Teva Pharmaceutical Industries Limited (TEVA) traded down $0.04 on Monday, hitting $11.74. The company had a trading volume of 16,182,000 shares, compared to its average volume of 15,171,136. The firm has a market cap of $11,950.00, a PE ratio of 2.72 and a beta of 0.52. The company has a current ratio of 0.96, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. Teva Pharmaceutical Industries Limited has a 1-year low of $10.85 and a 1-year high of $41.19.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.90%. Teva Pharmaceutical Industries Limited’s payout ratio is -16.01%.

A number of hedge funds and other institutional investors have recently made changes to their positions in TEVA. Capital Research Global Investors increased its holdings in Teva Pharmaceutical Industries Limited by 13.8% in the 2nd quarter. Capital Research Global Investors now owns 76,325,059 shares of the company’s stock valued at $2,535,518,000 after purchasing an additional 9,260,426 shares in the last quarter. Franklin Resources Inc. increased its holdings in Teva Pharmaceutical Industries Limited by 11.1% in the 2nd quarter. Franklin Resources Inc. now owns 66,796,897 shares of the company’s stock valued at $2,218,958,000 after purchasing an additional 6,685,844 shares in the last quarter. FMR LLC increased its holdings in Teva Pharmaceutical Industries Limited by 16.7% in the 2nd quarter. FMR LLC now owns 42,844,979 shares of the company’s stock valued at $1,423,310,000 after purchasing an additional 6,115,853 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Teva Pharmaceutical Industries Limited by 350.3% in the 3rd quarter. Macquarie Group Ltd. now owns 4,408,331 shares of the company’s stock valued at $77,587,000 after purchasing an additional 3,429,448 shares in the last quarter. Finally, Capital World Investors increased its holdings in Teva Pharmaceutical Industries Limited by 41.9% in the 2nd quarter. Capital World Investors now owns 11,068,200 shares of the company’s stock valued at $367,686,000 after purchasing an additional 3,268,200 shares in the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.

About Teva Pharmaceutical Industries Limited

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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