Teva Pharmaceutical Industries (NYSE:TEVA) Stock Price Down 2.4%

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share price dropped 2.4% on Tuesday . The company traded as low as $17.58 and last traded at $17.64. Approximately 815,307 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 9,939,606 shares. The stock had previously closed at $18.07.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TEVA shares. UBS Group boosted their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, July 10th. Barclays lifted their target price on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 3rd. Finally, Jefferies Financial Group lifted their price objective on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

Teva Pharmaceutical Industries Stock Performance

The company has a market capitalization of $20.18 billion, a PE ratio of -44.07, a PEG ratio of 1.26 and a beta of 0.88. The firm has a 50-day moving average of $17.59 and a two-hundred day moving average of $15.99. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 2.52.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.99 billion. Research analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.33 EPS for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now directly owns 45,060 shares of the company’s stock, valued at $777,285. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New Covenant Trust Company N.A. purchased a new position in Teva Pharmaceutical Industries during the first quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 1st quarter valued at about $30,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Teva Pharmaceutical Industries in the second quarter valued at about $48,000. Byrne Asset Management LLC acquired a new stake in Teva Pharmaceutical Industries during the second quarter worth about $52,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Teva Pharmaceutical Industries during the first quarter worth about $54,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Company Profile

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.