Analysts are Downgrading These 5 Stocks

4. Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Number of Hedge Fund Holders: 35

JPMorgan turned bearish on Teva Pharmaceutical Industries Limited (NYSE:TEVA) on Monday, November 14. The research firm cut its ratings for the Israeli pharmaceutical company from “Neutral” to “Underweight,” citing persistent growth hurdles.

Referring to the third-quarter report, analyst Christopher Schott said the results once again showed that Teva Pharmaceutical Industries Limited (NYSE:TEVA) continues to face challenges due to the absence of a growth catalyst in its portfolio.

Earlier this month, Teva Pharmaceutical Industries Limited (NYSE:TEVA) posted weak financial results for Q3. The company earned 59 cents per share on an adjusted basis, unchanged from the year-ago period and below the consensus of 62 cents per share. Revenue for the quarter fell 8 percent versus last year to $3.59 billion, while analysts were looking for $3.83 billion

Moreover, Teva Pharmaceutical Industries Limited (NYSE:TEVA) also cut its fiscal 2022 sales outlook to a range of $14.8 – $15.4 billion. The revised guidance is below analysts’ average estimate of $15.46 billion.

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