Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) had its price target reduced by equities research analysts at Deutsche Bank AG from $68.00 to $54.00 in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential upside of 38.85% from the company’s current price.

A number of other brokerages have also weighed in on TEVA. Oppenheimer Holdings Inc. raised shares of Teva Pharmaceutical Industries from a “market perform” rating to an “outperform” rating and set a $66.00 price target for the company in a report on Friday, September 2nd. Vetr raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating and set a $60.02 price target for the company in a report on Monday, August 1st. Leerink Swann set a $57.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “buy” rating in a research note on Friday, October 7th. Morgan Stanley set a $63.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research raised shares of Teva Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.00.

Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

Shares of Teva Pharmaceutical Industries (NYSE:TEVA) opened at 38.89 on Wednesday. The firm has a market capitalization of $35.55 billion, a P/E ratio of 25.98 and a beta of 0.73. Teva Pharmaceutical Industries has a 52 week low of $37.25 and a 52 week high of $66.55. The firm’s 50-day moving average is $42.97 and its 200 day moving average is $49.87.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Tuesday, November 15th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.02. The business earned $5.56 billion during the quarter, compared to analyst estimates of $5.71 billion. Teva Pharmaceutical Industries had a net margin of 7.56% and a return on equity of 17.77%. Teva Pharmaceutical Industries’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 earnings per share. Equities research analysts forecast that Teva Pharmaceutical Industries will post $5.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Monday, December 5th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.50%. Teva Pharmaceutical Industries’s dividend payout ratio (DPR) is currently 58.39%.

A number of hedge funds and other institutional investors have recently made changes to their positions in TEVA. Price T Rowe Associates Inc. MD raised its position in shares of Teva Pharmaceutical Industries by 2.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,293,135 shares of the company’s stock worth $289,547,000 after buying an additional 157,944 shares during the period. Crow Point Partners LLC bought a new position in shares of Teva Pharmaceutical Industries during the third quarter worth approximately $169,000. Schafer Cullen Capital Management Inc. raised its position in shares of Teva Pharmaceutical Industries by 43.5% in the third quarter. Schafer Cullen Capital Management Inc. now owns 10,565 shares of the company’s stock worth $486,000 after buying an additional 3,205 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Teva Pharmaceutical Industries by 9.5% in the third quarter. Salem Investment Counselors Inc. now owns 6,625 shares of the company’s stock worth $305,000 after buying an additional 575 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Teva Pharmaceutical Industries by 25.3% in the third quarter. Verition Fund Management LLC now owns 36,910 shares of the company’s stock worth $1,698,000 after buying an additional 7,445 shares during the period. Institutional investors and hedge funds own 63.00% of the company’s stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited is a global 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. It has a global portfolio of approximately 1,000 molecules.

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