As shares plunge, Teva sees 7000 layoffs by year's end

Teva Pharmaceutical Industries the world's biggest generic drugmaker and Israel's largest company is seen in Jerusalem

Several other research analysts have also issued reports on TEVA. For the past 5 years, the company's revenue has grown 3.6%, while the company's earnings per share has grown -53%. Jefferies Group LLC restated a hold rating and issued a $33.00 price objective on shares of Teva Pharmaceutical Industries in a research note on Friday, June 23rd. Eqis Capital Management Inc.'s holdings in Teva Pharmaceutical Industries Limited were worth $364,000 as of its most recent filing with the SEC. Analyst's mean target price for TEVA is $36.83 while analysts mean recommendation is 2.50. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell. The company now has an average rating of Hold and an average price target of $42.89. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has declined 41.70% since August 3, 2016 and is downtrending. The firm has a market capitalization of $24.13 billion, a PE ratio of 304.49 and a beta of 0.46. Teva Pharmaceutical Industries has a 52 week low of $23.33 and a 52 week high of $55.79.

For the Current Quarter, the growth estimate for Teva Pharmaceutical Industries Limited is -15.2%, while for the Next Quarter the stock growth estimate is -4.6%. The market was so bad, that Teva took a $6.1 billion impairment charge related to the US generics reporting unit for the quarter. Now the P/E of Teva Pharmaceutical Industries Limited (TEVA) stands at 224.06.

Teva posted earnings per share of $1.02, compared to $1.06 per share that analysts expected on average.

R&D for generic drugs amounted to $200 million in the second quarter, up 49%, compared with $134 million in the corresponding quarter of the preceding year, mainly as a result of the consolidation of R&D expenses of Actavis Generics. On average, analysts forecast that Teva Pharmaceutical Industries Limited will post $4.65 EPS for the current fiscal year.

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

Teva said the second quarter 2017 dividend would be 8.5 cents, down 75% from 34 cents in the first quarter of 2017. Sii Investments Inc. WI now owns 6,739 shares of the company's stock valued at $214,000 after buying an additional 25 shares during the last quarter. Piper Jaffray maintained the shares of TEVA in report on Friday, July 14 with "Hold" rating. Heritage Investors Management Corp now owns 188,990 shares of the company's stock valued at $6,065,000 after buying an additional 28,135 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Teva Pharmaceutical Industries Limited by 0.4% in the first quarter. Bank Hapoalim BM now owns 11,673 shares of the company's stock valued at $375,000 after buying an additional 980 shares during the period. Teva Pharmaceutical Industries Limited also was the target of some unusual options trading activity on Thursday. Schulhoff & Co. Inc. boosted its stake in Teva Pharmaceutical Industries by 9.5% in the first quarter. Teva Pharmaceutical Industries Limited presently has an average rating of "Hold" and an average target price of $42.23. The company also recently lost a big patent case for its top-selling drug Copaxone, which moved investors to call for a management changes.

Acting Teva CEO Dr. Yitzhak Peterburg addressed the reports, explaining that the company had not expected such poor results and pointed to the crisis in Venezuela as part of the problem.

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