Bayer AG (NASDAQ:BAYRY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Bayer’s earnings beat the Zacks Consensus Estimate but sales missed the estimates in the third quarter of 2017. Sales at Consumer Health decreased, primarily due to a difficult U.S. market environment. Further, as part of its strategy to complete the planned acquisition of Monsanto, Bayer inked an agreement to sell selected Crop Science businesses to BASF. With this agreement, the company will actively address the authorities’ possible concerns regarding the planned acquisition of Monsanto and facilitate a successful closing of the transaction by early 2018. The combined enterprise will be able to bring innovations to the market faster and provide its customers with better solutions. However, the company is facing generic competition for many of its products including the Yaz franchise (oral contraceptives). The generics of key drugs will negatively impact revenues. Yet, Bayer’s shares have outperformed the industry year to date.”

A number of other research analysts also recently weighed in on the stock. ValuEngine raised shares of Bayer AG from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BNP Paribas raised shares of Bayer AG from a “neutral” rating to an “outperform” rating in a research report on Monday, September 25th. Finally, Berenberg Bank downgraded shares of Bayer AG from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $148.00.

Shares of Bayer AG (NASDAQ:BAYRY) opened at 32.47 on Tuesday. Bayer AG has a 52 week low of $22.88 and a 52 week high of $35.41.

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About Bayer AG

Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Animal Health and Covestro. The Pharmaceuticals segment focuses on prescription products, especially for cardiology and women’s healthcare, and on specialty therapeutics in the areas of oncology, hematology and ophthalmology.

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