Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a buy rating to a strong-buy rating in a research note published on Thursday morning.

Several other analysts have also weighed in on TEVA. UBS Group increased their price target on Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the company a buy rating in a report on Wednesday, July 10th. Barclays raised their price objective on Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the company an overweight rating in a research report on Wednesday, June 5th. Jefferies Financial Group increased their price target on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a buy rating in a research note on Thursday, June 27th. Argus upgraded Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler restated an overweight rating and issued a $20.00 price objective (up from $19.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $18.56.

Teva Pharmaceutical Industries Price Performance

TEVA opened at $16.81 on Thursday. Teva Pharmaceutical Industries has a 1 year low of $8.06 and a 1 year high of $17.69. The stock has a 50-day moving average price of $16.75 and a 200-day moving average price of $14.48. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market cap of $19.03 billion, a PE ratio of -40.99, a P/E/G ratio of 1.45 and a beta of 0.90.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.70 billion. Teva Pharmaceutical Industries had a negative net margin of 2.88% and a positive return on equity of 37.33%. Sell-side analysts predict that Teva Pharmaceutical Industries will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

In related news, insider Vikki L. Conway sold 15,219 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.74, for a total transaction of $254,766.06. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Vikki L. Conway sold 15,219 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.74, for a total value of $254,766.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amir Weiss sold 15,500 shares of Teva Pharmaceutical Industries stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $16.80, for a total value of $260,400.00. Following the transaction, the chief accounting officer now directly owns 17,814 shares of the company’s stock, valued at $299,275.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 549,719 shares of company stock valued at $9,353,736. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in TEVA. Janney Montgomery Scott LLC lifted its stake in shares of Teva Pharmaceutical Industries by 13.6% during the first quarter. Janney Montgomery Scott LLC now owns 1,372,477 shares of the company’s stock worth $19,366,000 after purchasing an additional 164,614 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Teva Pharmaceutical Industries by 705.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 579,562 shares of the company’s stock worth $6,051,000 after buying an additional 507,568 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Teva Pharmaceutical Industries by 53.7% in the 1st quarter. QRG Capital Management Inc. now owns 143,747 shares of the company’s stock worth $2,028,000 after buying an additional 50,247 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of Teva Pharmaceutical Industries in the 1st quarter valued at about $2,169,000. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Teva Pharmaceutical Industries by 1,382.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 255,826 shares of the company’s stock worth $2,671,000 after purchasing an additional 238,573 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.