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Teva to fire 7000 employees after $6 billion loss as stocks plummet

05 August 2017, 12:30 | Melanie Burgess

Teva Pharmaceutical Misses On Q2 Earnings, Cuts Guidance; Stock Dives

Teva Pharmaceutical Industries Limited - TEVA - Stock Price Today - Zacks - Zacks Investment Research

Heritage Investors Management Corp boosted its stake in Teva Pharmaceutical Industries by 17.5% in the first quarter. Barer was asked when Teva would announce a new CEO, ErezVigodman having stepped down in February after a series of missteps, but did not offer a timetable, saying there would be no rush to find the right candidate, which must have "important CEO level experience at major pharmaceutical companies". Harel Insurance Investments & Financial Services Ltd. now owns 1,435,505 shares of the company's stock valued at $46,065,000 after buying an additional 1,435,151 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Teva Pharmaceutical Industries Limited by 7.5% in the second quarter.

Global sales of Teva's best-selling multiple sclerosis drug Copaxone fell 10 percent in the quarter to $1.02 billion.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last issued its quarterly earnings results on Thursday, August 3rd.

Among 26 analysts covering Teva Pharma (NYSE:TEVA), 10 have Buy rating, 0 Sell and 16 Hold.

Shares of Teva Pharmaceutical Industries Limited (TEVA) opened at 32.34 on Monday. Ameriprise Financial Inc. increased its position in shares of Teva Pharmaceutical Industries Limited by 142.2% in the first quarter. The stock had a trading volume of 62,024,408 shares.

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) saw its share price plummet in pre-market trading after the generic drugs giant missed second quarter expectations and cut its full-year outlook. The 8 months bullish chart indicates low risk for the $215.12 million company. The firm has a market cap of $21.82 billion, a PE ratio of 275.38 and a beta of 0.46. Teva Pharmaceutical Industries Limited (TEVA) is a part of Healthcare sector and belongs to Drug Manufacturers - Other industry. 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. (NYSE:NWL) puts the stock on today's active list. This is an increase of approximately 864% compared to the typical volume of 6,922 put options. The company reported the earnings of $1.06/Share in the last quarter where the estimated EPS by analysts was $1.03/share. "Non-GAAP EPS for 2017 is now expected to be $4.30 - $4.50, based on a weighted average number of shares of 1,076 million, down from a previously expected range of $4.90 - $5.30". The Return on Equity (ROE) value stands at 0.3%.

"This adjusted outlook takes into consideration the impact of increased price erosion in our USA 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". During the same period in the prior year, the firm posted $1.25 EPS.

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COPYRIGHT VIOLATION WARNING: This story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze.

TEVA has been the topic of several analyst reports.

Teva Pharmaceutical Industries Limited (TEVA) has an Analysts' Mean Recommendation of 2.5, according to data compiled by Finviz.

After the taking short look at recent activity of Teva Pharmaceutical Industries Limited (TEVA) it is noted that TEVA delivered a decrease of -23.04% return in current trading session. Vetr cut shares of Teva Pharmaceutical Industries Limited from a "strong-buy" rating to a "buy" rating and set a $31.94 price objective for the company.in a research report on Monday, May 22nd.

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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