Teva to Cut 7000 Jobs After Disappointing Quarter Results

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

Shares of Teva plummeted 22 percent, the most since February 1998, and traded down to $24.45 as of 12:15 p.m in NY, and extending the decline in the past 12 months to about 54 percent. The correct version of this piece of content can be read at

Apart from lower prices, Teva said that the company's quarter was hurt by lower volume and the market over-saturation of generic drugs. 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. The Focused Wealth Management Inc holds 29,345 shares with $1.06M value, up from 17,900 last quarter.

A few hours after the second quarter report was released, Peterburg got on the phone with investors to outline in more detail the factors that contributed to the report's shortcomings and to elaborate on the company's plan moving forward. Inc. now owns 69,183 shares of the company's stock valued at $2,220,000 after buying an additional 295 shares during the period. Bank Hapoalim BM raised its position in shares of Teva Pharmaceutical Industries Limited by 9.2% in the first quarter. Cribstone Capital Management LLC boosted its stake in shares of Teva Pharmaceutical Industries Limited by 3.3% in the first quarter. Institutional investors and hedge funds own 56.20% of the company's stock. The stock of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) earned "Hold" rating by Jefferies on Thursday, June 22. Moreover, Levy Harkins & Co Inc has 5.01% invested in the company for 196,624 shares. The 7 months bearish chart indicates high risk for the $23.97 billion company. The company has a market cap of $32.86 billion, a PE ratio of 414.62 and a beta of 0.47. Teva Pharmaceutical Industries Limited also saw some unusual options trading on Thursday. This is an increase of approximately 864% compared to the typical volume of 6,922 put options.

Earnings Miss: Teva's second quarter earnings (including equity compensation expenses), came in at 99 cents per share, which missed the Zacks consensus estimate of $1.06 per share. The dividend was $0.340 per share for the quarter or $1.36 on an annualized basis.

Forecast: Pleasant today, rain possible through the weekend
Sunny skies and a high near 88 are expected Wednesday for Topeka and northeast Kansas, according to the National Weather Service . The airmass will be warm & humid across the area Sunday , and showers and storms will be likely especially in the afternoon.

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.

COPYRIGHT VIOLATION WARNING: This news story was reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was stolen and republished in violation of USA & global copyright and trademark legislation. Teva Pharma had 72 analyst reports since July 21, 2015 according to SRatingsIntel.

Teva Pharmaceutical Industries Limited (TEVA) stock price yielded a negative -12.81% lead over its 52-week low and communicated declining move of -56.87% over its 52-week high. The company's net profit margin has achieved the current level of 3.5 percent and possesses 85.7 percent gross margin. CIBC restated a "buy" rating and set a $43.00 price objective on shares of Teva Pharmaceutical Industries Limited in a research report on Friday, April 7th. Teva Pharmaceutical Industries Limited (NYSE:TEVA) has noticeable measure of stock volatility, for this average true range is an exponential moving average (14 trading days) of the True Ranges. Revenue also fell short of analysts' outlook by $300 million, coming in at $5.656 billion versus the expected $5.178 billion. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock has "Buy" rating by Maxim Group on Wednesday, January 4.

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