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標題: teva大跌18% 不知花生甚麼事? [打印本頁]

作者: Jordan 時間: 2017-8-3 22:14 標題: teva大跌18% 不知花生甚麼事?

作者: mikeon88 時間: 2017-8-3 22:21

財報不如預期

‧ Teva Pharmaceutical Industries (NYSE:TEVA) Q2 results ($M): Net Revenues: 5,686 (+12.9%).
‧ Generics: 3,978 (+20.4%) reflecting the inclusion of Actavis Generics.
‧ Specialty Medicines: 2,065 (-9.1%); CNS: 1,158 (-18.2%).
‧ Copaxone sales: 1,023 (-10.3%).
‧ Net Income: (5,970) (-999%); Non-GAAP Net Income: 1,035 (-15.7%); EPS: (5.94) (-999%); Non-GAAP EPS: 1.02 (-18.4%).
‧ Results negatively impacted by due to competitive pressures in U.S. Generics ($6.1B impairment charge recorded) and the continued deterioration in Venezuela.
‧ Cash flow from operations down 23.1% to $741M mainly due to the payment of $113M related to the ciprofloxacin settlement.
‧ 2017 Guidance: Revenues: $22.8B - 23.2B from $23.8B - 24.5B; Non-GAAP EPS: $4.30 - 4.50 from $4.90 - 5.30; CF Ops: $4.4B - 4.6B from $5.7B - 6.1B.
‧ Shares are down 9% premarket on robust volume.

作者: mikeon88 時間: 2017-8-4 06:23

跌了24%，真可怕！

作者: duwa 時間: 2017-8-4 10:19

Here's Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a StoneShares plunge after the company reports dreadful second-quarter results and slashes its dividend payment.Brian Feroldi
(TMFTypeoh)

Aug 3, 2017 at 2:35PM

What happenedIn response to reporting rough second-quarter results, shares of Teva Pharmaceutical Industries (NYSE:TEVA), a leading provider of generic drugs, dropped 24% as of 1:15 p.m. EDT on Thursday.
So whatHere's a review of the key takeaways from the company's second-quarter results:

Revenue jumped 13% to $5.68 billion, thanks largely to the inclusion of the Actavis Generics business that was acquired from Allergan (NYSE:AGN) last August. On a currency-neutral basis, this figure rose 17% year over year, but it came up shy of the $5.72 billion in revenue that Wall Street had expected.併購沒有綜效
Teva's U.S. generic business is facing major pricing and volume pressure due to consolidation among its customers and increased competition.
Specialty revenue dropped 9% during the quarter. While sales of many specialty drugs were weak, sales of multiple-sclerosis treatment Copaxone, the company's top-selling drug, fell 10% to $1.0 billion and were a major source of the overall decline.學名藥競爭激烈
Adjusted gross margin plunged 570 basis points when compared to the year-ago period.利潤下跌
A goodwill impairment charge of $6.1 billion was recorded during the quarter because of "market dynamics of the U.S. generics unit." That charge drove a GAAP (generally accepted accounting principles) net loss of $6 billion for the quarter.併購產生嚴重商譽減損
Adjusted net income fell 20% to $1.0 billion, or $1.02 per share, a figure that also fell short of the $1.06 that market-watchers had predicted.
An interim dividend of $0.085 per share was declared. This represents a cut of 75% when compared to last year.股息下降

The lower-than-hoped for results also caused management to pull back on its guidance for the year. The company now expects adjusted full-year revenue to land between $22.8 billion and $23.2 billion. That's down from its prior outlook of $23.8 billion to $24.5 billion.經營階級預測失準
The adjusted figure for earnings per share was taken down a notch, too. The new range is $4.30 to $4.50, which is down from the prior outlook of $4.90 to $5.30.
Given the disappointing quarterly results, slashed dividend, difficult operating conditions, and lowered guidance, it is easy to understand why traders are mauling the company's stock today.
通路優勢不明
專利優勢無
自主技術優勢無都是併購
競爭優勢只剩規模經濟
管理優勢無併購無綜效結論便宜價可能forever

作者: mikeon88 時間: 2017-8-4 10:22

謝謝duwa 桑指導，真正專家！

作者: Ren 時間: 2017-8-4 22:18

Hi duwa 桑,
可以幫忙分析這一支嗎? 美股代號 CAH

Cardinal Health Inc

Cardinal Health, Inc.是一家控股公司，在1979年成立，總部設在俄亥俄州都柏林，主要是以分銷藥物和提供藥療相關服務為主，服務對象為醫療保健產業。收購Medicine Shoppe國際公司後，成為全美最大的藥物經銷商。在全美26個州設有約30個分銷中心。

作者: mikeon88 時間: 2017-8-5 06:53

作者: Raimu 時間: 2017-8-5 11:21

最近因為撤銷Obamacare失敗
很多醫療相關的股票都借題發揮
CAH跟MCK的股價都有不錯的拉回幅度

作者: ranniechen 時間: 2017-8-5 22:37

對生技醫藥或藥廠股而言
歐巴馬窮人健保法是利多？
還是川普醫藥價格回歸市場機制呢？

作者: Raimu 時間: 2017-8-5 23:25

其實客觀來說
川普當選前後健保至今都沒改變
也就是說不管是利多還是利空
這些醫療類股的財務面都沒有改變
改變的只有投資人的預期心理
對長線投資人來說我們只要確定有買便宜就夠了

作者: kandv124 時間: 2017-8-6 09:54

跟台灣奇蹟浩鼎比起來.....

這算什麼

晚點買個幾張來壓壓驚!

[ 本帖最後由 kandv124 於 2017-8-6 09:55 編輯 ]

作者: mikeon88 時間: 2017-8-6 12:22

http://m.cnyes.com/news/id/3884163?utm_campaign=news&utm_medium=news&utm_source=fbfan

作者: Joe 時間: 2017-8-6 16:00

賽諾菲（法語：Sanofi）歐洲第一大、全球第三大製藥商

之前討論藥廠股:
http://mikeon88.freebbs.tw/viewthread.php?tid=37542&extra=page%3D1

作者: duwa 時間: 2017-8-7 14:45

這家很穩比較像物流業。
同學有說MCK有一部分業務跟他很像，但MCK有科技資訊服務，比較會起伏。
都不錯...
但物流業就不是我專長嘿嘿....

作者: Raimu 時間: 2017-8-7 20:31

CAH跟MCK的毛利都非常低 (大約5%)
做通路/物流/批發的毛利看來都是類似的低
但是低毛利相對也阻止了新的競爭者加入 XDDD
最近CAH/MCK股價的波動可能是來自
1. 藥價: 營運成本固定的情況下較高的藥價會有較高的毛利但是目前執政當局的方針是希望藥價降低
2. 謠傳AMZN也想要開始賣藥

CAH有自己的門市
MCK則跟WMT有長期的合作關係

作者: jazdisk 時間: 2017-8-8 08:43

今天又跌近10％收盤18.59
掉下來的刀子....

作者: mikeon88 時間: 2017-11-24 12:18

全球最大學名藥廠Teva欲裁上千人以色列工會出擊協調2017/11/24 12:01鉅亨網編譯林懇

圖：afp據《Calcalist》報導，學名藥大廠 Teva (TEVA-US) 預計將於總部以色列的 6860 員工裁員 20% 至 25%，而美國約 1 萬員工也將裁上千人。Teva 股價上漲 1.13% 來到 13.48 美元。

Teva 股價日線走勢圖據了解，Teva 近期剛上任的新執行長 Kare Schultz 正與高層擬出一個退場方案，希望裁員順利。同時，在裁員名單上的也包括科學長 (chief scientific officer) 及研發部門最高主管 Michael Hayden 總監。Teva 未對外評論此事。
對此，以色列工會 Histadrut 提道，「裁員將會是最後方案」，也表示會從溝通及談判來達成方案。
全球最大學名藥商 Teva 一直是以色列市值最高的企業，事實上 Teva 的裁員過程也是相當的困難。此前在 8 月份欲裁 350 人的 Teva，最後也只裁了 230 人。

「管理階層的錯誤，應管理階層負債，我們不會成為被害者」/ 圖：彭博市場認為 Teva 應在第 4 季開始節降成本，以抵銷今年來學名藥的價格下降，及 Teva 研發的多發性硬化症藥物 Copaxone 銷量減緩。
從去年花 405 億美元併購 Allergan (AGN-US) 旗下的學名藥部門 Actavis 後，Teva 就一直無法脫離債務的危機，目前 Teva 債額達 350 億美元。Schultz 提道，首先急就是穩住現金流和營業利潤。
Teva 近期也開始販售資產還債，Fitch 評級於這個月把 Teva 債務下調至「垃圾」。

作者: Yvens 時間: 2017-11-24 13:07

恩...DUWA桑上次有見解...所以TEVA在怎麼跌...躲的遠遠....

作者: billee 時間: 2017-11-24 23:05

沒事吧? 上次看到討論就買了，到今天漲了接近20%.......沒幾天

歡迎光臨巴菲特班洪瑞泰 (Michael On) (http://mikeon88.freebbs.tw/)