Teva said it was in the process of laying off some 7,000 workers Thursday, as stocks plunged after the drugmaker reported disappointing second-quarter results and cut its dividend payment for the quarter by 75 percent.
A number of other hedge funds have also recently made changes to their positions in the stock. National Pension Service raised its stake in Teva Pharmaceutical Industries by 8.6% in the first quarter. FNY Managed Accounts LLC acquired a new stake in shares of Teva Pharmaceutical Industries Limited during the first quarter valued at approximately $123,000. The stock decreased 24.00% or $7.5 during the last trading session, reaching $23.75.
In June, Teva nominated four new directors in an effort to address investor concerns that its board lacked global pharmaceutical experience. Renaissance Technologies LLC now owns 4,817,763 shares of the company's stock valued at $154,602,000 after buying an additional 2,651,900 shares in the last quarter. Schulhoff & Co. Inc. boosted its stake in shares of Teva Pharmaceutical Industries Limited by 9.5% in the first quarter. Investors measure stock performance on the basis of a company's earnings power. Earnings per share serves as an indicator of a company's profitability.
The Piotroski score is a discrete score ranging from 0-9 that shows nine criteria used to find out the strength of a company's financial position. For the long-term approach of trading or also can for short period of time, 200 days MA can also help to get idea about trading, TEVA has -30.57% which indicates Bearish trends and this can also make isolating trends easier. This is an increase of approximately 864% compared to the typical volume of 6,922 put options.
Teva also missed estimates when it came to earnings per share. Teva Pharmaceutical Industries Limited had a net margin of 1.49% and a return on equity of 16.38%.
They expect $1.06 EPS, down 17.92% or $0.19 from last year's $1.25 per share. During the same period in the prior year, the company posted $1.20 earnings per share.
"This adjusted outlook takes into consideration the impact of increased price erosion in our United States generics business, which is expected to be in a high single digits rate through the remainder of the year, and delays in generic launches in the US".
Among analysts who offered their Analysis on Teva Pharmaceutical Industries Limited (TEVA)-4 analysts issued Buy for the stock, 6 analysts gave Outperform rating, 16 think it's a Hold, 0 issued Underperform, while 0 analyst gave a Sell rating.
COPYRIGHT VIOLATION WARNING: This story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/08/04/teva-pharmaceutical-industries-limited-teva-pt-set-at-27-00-by-cantor-fitzgerald.html. Teva Pharma had 77 analyst reports since July 21, 2015 according to SRatingsIntel.
Teva Pharmaceutical Industries Limited's average Free Cash Flow per Share Growth Rate was -36.8 percent during the past 12 months.
The stock is now showing YTD performance of -34.48 Percent. Finally, Citigroup Inc. dropped their price target on Teva Pharmaceutical Industries Limited from $47.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, April 25th. The stock of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has "Buy" rating given on Tuesday, July 28 by Argus Research. Teva Pharmaceutical Industries Limited's stock is -33.19% away from its 20-Day Simple Moving Average.
Among 26 analysts covering Teva Pharma (NYSE:TEVA), 12 have Buy rating, 0 Sell and 14 Hold. The firm now has a "hold" rating on the stock.
The pharmaceutical company, based in Petach Tikva, Israel, is the world's largest producer of generic medicines.