Teva Reports Big 2Q Losses: Plans to Cut Jobs, Close Plants

Randall Padilla
August 5, 2017

The stock has "Buy" rating by Maxim Group on Wednesday, January 4. The company now has a consensus rating of "Hold" and a consensus target price of $42.89. The FDA has also accepted the Biologics License Applications that Teva has submitted for review with its partner, Celltrion, Inc., for biosimilar versions of both Rituxan and Herceptin. Currently, Delcath Systems, Inc.net profit margin for the 12 months is at -1162.33%. Teva Pharmaceutical Industries Limited makes up about 1.7% of Blue Granite Capital LLC's portfolio, making the stock its 28th largest position. Guggenheim Capital LLC increased its position in Teva Pharmaceutical Industries by 1.1% in the fourth quarter. The rating was initiated by Credit Suisse with "Neutral" on Wednesday, May 4.

Teva Pharmaceutical Industries Limited's average Free Cash Flow per Share Growth Rate was -36.8 percent during the past 12 months.

Among 26 analysts covering Teva Pharma (NYSE:TEVA), 12 have Buy rating, 0 Sell and 14 Hold. Deutsche Bank AG lowered their target price on shares of Teva Pharmaceutical Industries from $45.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, May 12th. The analyst told investors today that there are better alternatives out there for long-term returns, while cutting his price target from $50.00 to $30.00 - and downgrading the company's stock from Outperform to Market Perform.

Rumors and reports of pending cuts have been circulating for weeks and the fact that manufacturing will take the hardest hit in the restructuring is no big surprise given that Teva bought the Actavis generics unit of Allergan a year ago for $40.5 billion, picking up about 30 facilities in that deal. This represents an increase of approximately 864% compared to the typical volume of 6,922 put options.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last released its earnings results on Thursday, August 3rd. Company fiscal year is ending in December and analysts' consensus recommendation is Hold for TEVA and estimated EPS for next quarter is $ 1.20. The Return on Equity (ROE) value stands at 0.3%. It cut its full-year revenue expectations to $22.8 billion-$23.2 billion, from $23.8 billion-$24.5 billion. The stock of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) earned "Buy" rating by Mizuho on Tuesday, May 10.

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A number of hedge funds have recently added to or reduced their stakes in the company.

At last check, shares of Teva Pharmaceutical are down by 8.2%, to $21.78 a share, in early trading Friday.

Henderson Group Plc increased its stake in Teva Pharmaceutical Inds Ltd (TEVA) by 3.23% based on its latest 2016Q4 regulatory filing with the SEC. Revenue also fell short of analysts' outlook by $300 million, coming in at $5.656 billion versus the expected $5.178 billion. The company's past year sales total was 5.04 Million. Salem Investment Counselors Inc. raised its stake in Teva Pharmaceutical Industries Limited by 0.4% in the first quarter. About 67.03M shares traded or 569.63% up from the average.

Teva Chairman Sol Barer said in June that the company was interviewing candidates for the top job, and the choice would likely be someone with global drug-industry experience, from outside Israel but willing to live in the country. "We have made important progress and it has been positive so far", he said, also deflecting questions from analysts on the prospects of splitting the company into two - generics and specialty drugs. The Firm operates through three divisions: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.

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