|Bid||197.88 x 900|
|Ask||210.00 x 800|
|Day's Range||197.31 - 198.93|
|52 Week Range||114.27 - 202.22|
|Beta (5Y Monthly)||1.69|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.96 (1.49%)|
|Ex-Dividend Date||Feb 12, 2020|
|1y Target Est||N/A|
In our experience one of the best tools for ordinary investors who are on the hunt for new ideas is 13F filings. Once every quarter, hedge funds with at least $100 million in total positions in publicly traded US stocks are required to disclose the number of shares and the total value of its positions […]
One of your companies gets a buyout offer and the shares soar. There might be different strategies for traders and investors on what to do next.
A group of unions and consumer groups wrote to U.S. antitrust enforcers on Tuesday to oppose a proposed remedy that could lead to U.S. approval for AbbVie Inc's planned purchase of Allergan Plc . In its letter to the Federal Trade Commission, which is reviewing the merger to ensure it is legal, the groups argued that a plan for the companies to divest Allergan's brazikumab, which is being developed to treat ulcerative colitis and Crohn's disease, was inadequate to resolve antitrust concerns raised by the planned deal. AbbVie did not immediately respond to a request for comment.
AbbVie stock initially fell on its $63 billion plan to buy Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?
Shares of Teva Pharmaceuticals (NYSE:TEVA) were up over 9% in late trading on Feb.12. The company posted EPS and revenue that exceeded analysts' expectations.Source: JHVEPhoto / Shutterstock.com The earnings report made it three quarters in a row that Teva stock has beaten revenue expectations. The bottom line number marked a reversal from the third quarter. In that quarter, the company missed on EPS.The positive earnings report was good news for a company that needs it. But the results already were baked into the stock.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Company Has Successfully Cut CostsTeva has been facing two significant roadblocks to growth. The first was unwinding a pile of debt the company took on from its $40 billion purchase of Actavis Generics from Allergan (NYSE:AGN) in 2016. The company is still bringing forward about $25 billion in liabilities. * 20 Stocks to Buy From the Law of Accelerating Returns The company is also forecasting a loss of revenue from its top-selling multiple sclerosis drug Copaxone. Teva is forecasting that sales of Copaxone will drop to $1.2 billion from $1.5 billion. To help with that, the company has just completed a $3 billion restructuring.This is helping lower the company's operating costs. But what investors will be keen to monitor is alternate revenue streams. The company is expecting to make up some of the decline in Copaxone revenue with increased sales of Austedo and Ajovy which have begun to pick up. Austedo is a treatment for tardive dyskinesia. Ajovy is a migraine treatment. Teva and the Opioid LawsuitThe second obstacle is a lack of resolution in the company's legal battle that spans five states. Teva is among one of several drugmakers listed in the lawsuit. The suit alleges that Teva (among others) bears responsibility for the expansion of the opioid epidemic that has plagued the United States for several years.Teva's stock briefly went up in October on the announcement that it had offered a settlement. In the settlement offer, Teva agreed to pay $250 million in cash over ten years. The company will also supply $23 million in drugs. The total settlement for all the companies involved would total $48 billion.However, the settlement is not approved by all the attorneys general involved. In October, Teva was optimistic that it would have a resolution by the end of the year. But with the calendar moving deeper into 2020, the settlement is still not approved.Perhaps for legal reasons, the company did not offer any further guidance on a resolution during the conference call. In fairness, there may be a resolution to the lawsuit in short order. However, in an election year, it may drag on for some time. And that means it could still be hanging over the stock for some time. The Trend Is Against Teva StockTeva stock has been trending down since reaching its all-time high in 2015. The bigger problem is that the stock dipped below $20 late in 2018. Since then, it has never regained that level. In fact, the stock topped out at just over $19 in 2019. Currently, it would take a surge of more than 40% for Teva to reach $20.However, the stock has surged over 100% since August. It makes you wonder if there is any more run left in the stock. Even if the stock went up by 20%, Teva would be generating a nice return. But that would put the stock around $16 per share. And Teva stock hasn't been higher than $15 per share since April 2019. To reach that level, the stock would have to rise just over 10% from current levels.If the company can put the lawsuit behind it, it would go a long way to taking away uncertainty, but right now I think Teva has already priced in all its good news.As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 20 Stocks to Buy From the Law of Accelerating Returns * 10 Strong Lottery Ticket Stocks That Could Soar in 2020 * 7 U.S. Stocks to Buy on Coronavirus Weakness The post Positive Earnings Look as If They're Already Priced in to Teva Stock appeared first on InvestorPlace.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Feb. 10) AbbVie Inc (NYSE: ABBV ) Allergan plc (NYSE: AGN ) ...
Allergan stock jumped Monday after the Botox-making pharma company topped fourth-quarter expectations ahead of its $63 billion acquisition by AbbVie. Botox sales edged up in the quarter.
Botox, Juvederm fillers and Vraylar drive Allergan's (AGN) fourth-quarter sales, making up for loss of exclusivity on some brands and lower sales of eye drug, Restasis.
U.S. stocks edged lower at the start of trade Monday as traders awaited more clarity on the ultimate economic impact of a growing outbreak of the coronavirus, which has disrupted global supply chains dependent on Chinese production where the virus originated. The Dow Jones Industrial Average fell 13 points, or less than 0.1% to 29,090, the S&P 500 index shed 1 points, or less than 0.1% to 3,326 and the Nasdaq Composite index fell 8 points, or 0.1% to 9,512. Many Chinese factories began reopening Monday after weeks of closures aimed at preventing the spread of the virus, as officials there gain confidence that its spread will soon decelerate. But other facilities will remain closed, while the World Health Organization warned that the spread of the virus will likely accelerate in other countries in the coming days. Investors were also monitoring fourth-quarter earnings results, as earnings season enters its final stretch. Burger King parent Restaurant Brands International Inc. and Allergan PLC reported better-than-expected earnings Monday morning, sending their shares higher at the open.
Allergan plc (NYSE: AGN ) reported quarterly earnings of $5.22 per share on Monday, beating the analyst consensus estimate of $4.57 by 14.22%. This is a 21.68% increase over earnings of $4.29 per share ...
Benzinga Pro's Stocks To Watch For Monday NIO, Inc. (NIO) - Shares were down 2% following Jan. deliveries of 1,598 units. The company warned "the extended holiday due to the unfortunate outbreak ...
Shares of Allergan PLC rose 1% in premarket trading Monday, after the drug maker reported a fourth-quarter adjusted profit and revenue that beat expectations. The net loss narrowed to $317.2 million, or 97 cents a share, from $4.3 billion, or $12.83 a share, in the year-ago period. Excluding non-recurring items, such as charges for settlements of lawsuits and for asset impairment, adjusted earnings per share came to $5.22, above the FactSet consensus of $4.57. Revenue grew 6.6% to $4.35 billion, above the FactSet consensus of $4.09 billion, as U.S. specialized therapeutics sales increase 0.7% to $1.82 billion to top expectations of $1.68 billion and U.S. general medicine revenue grew 15.2% to $1.61 billion to top expectations of $1.48 billion. Botox therapeutics revenue rose 8.9% to $102.5 million. Allergan said it expects the AbbVie Inc. merger to close around the end of the first quarter of 2020. Allergan's stock has gained 8.7% over the past three months, while the S&P 500 has advanced 7.6%.
Allergan said it won't host an conference call with analysts to discuss Q4 earnings, but sees $63 billion AbbVie deal closing in the first quarter of this year.
STOCKSTOWATCHTODAY BLOG Three numbers to start your day: 60 S&P 500 Companies Report Earnings This Week Keep up, fourth-quarter earnings season continues. Several major companies in the health-care space will report this week.
AbbVie (ABBV) beat on earnings in the fourth quarter of 2019 while revenues meet the same. Shares up in pre-market trading following a solid 2020 outlook.