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

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Monday, November 13th, MarketBeat 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 target would indicate a potential downside of 27.92% from the company’s current price.

A number of other brokerages have also recently issued reports on TEVA. Jefferies Group reiterated a “hold” rating on shares of Teva Pharmaceutical Industries in a report on Tuesday, July 25th. Vetr upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $34.17 price objective on the stock in a research note on Monday, July 24th. Zacks Investment Research upgraded Teva Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Royal Bank Of Canada restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, July 17th. Finally, Mizuho restated a “hold” rating and set a $30.00 price objective on shares of Teva Pharmaceutical Industries in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.65.

Shares of Teva Pharmaceutical Industries (NYSE TEVA) traded up $0.44 on Monday, hitting $15.26. The company had a trading volume of 26,517,515 shares, compared to its average volume of 25,609,576. Teva Pharmaceutical Industries has a 12 month low of $10.85 and a 12 month high of $38.31. The company has a current ratio of 0.96, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a market cap of $15,057.12, a PE ratio of 3.42 and a beta of 0.55.

A number of institutional investors and hedge funds have recently made changes to their positions in TEVA. San Francisco Sentry Investment Group CA purchased a new stake in Teva Pharmaceutical Industries in the 2nd quarter worth about $106,000. Kistler Tiffany Companies LLC increased its holdings in Teva Pharmaceutical Industries by 74.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 3,673 shares of the company’s stock worth $122,000 after acquiring an additional 1,571 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Teva Pharmaceutical Industries by 2.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,711 shares of the company’s stock worth $123,000 after acquiring an additional 94 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries in the 3rd quarter worth about $129,000. Finally, Cutler Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries in the 2nd quarter worth about $133,000. 52.05% of the stock is owned by institutional investors.

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About Teva Pharmaceutical Industries

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 (NYSE:TEVA)

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