Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 12-Month High – Here’s Why

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.20 and last traded at $19.13, with a volume of 246957 shares trading hands. The stock had previously closed at $18.77.

Analysts Set New Price Targets

Several analysts recently commented on TEVA shares. Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, July 10th. Barclays lifted their price objective on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, UBS Group increased their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.67.

Teva Pharmaceutical Industries Trading Down 8.1 %

The firm’s 50 day simple moving average is $18.03 and its 200-day simple moving average is $17.06. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59.

Institutional Trading of Teva Pharmaceutical Industries

A number of large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Teva Pharmaceutical Industries by 0.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 112,380 shares of the company’s stock valued at $2,025,000 after purchasing an additional 805 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in shares of Teva Pharmaceutical Industries by 4.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 24,495 shares of the company’s stock valued at $346,000 after buying an additional 947 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Teva Pharmaceutical Industries by 16.9% during the 3rd quarter. Signaturefd LLC now owns 7,583 shares of the company’s stock worth $137,000 after acquiring an additional 1,094 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Teva Pharmaceutical Industries by 9.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 13,522 shares of the company’s stock worth $191,000 after acquiring an additional 1,180 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Teva Pharmaceutical Industries by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 144,938 shares of the company’s stock valued at $2,355,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds 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.