Teva Pharmaceutical Industries (NYSE:TEVA) Given New $20.00 Price Target at Bank of America

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target dropped by research analysts at Bank of America from $23.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 28.49% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. StockNews.com cut shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Barclays decreased their price target on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, UBS Group cut their price objective on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and an average price target of $23.43.

Teva Pharmaceutical Industries Price Performance

NYSE TEVA traded down $0.34 on Thursday, reaching $15.57. The company’s stock had a trading volume of 1,778,051 shares, compared to its average volume of 12,476,969. Teva Pharmaceutical Industries has a 52 week low of $12.51 and a 52 week high of $22.80. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. The firm has a market cap of $17.65 billion, a PE ratio of -10.76, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The business has a 50-day moving average price of $19.15 and a 200 day moving average price of $18.42.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. Sell-side analysts expect that Teva Pharmaceutical Industries will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 286,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the completion of the sale, the director now owns 695,000 shares in the company, valued at $15,296,950. The trade was a 29.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its position in shares of Teva Pharmaceutical Industries by 54.0% in the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock worth $1,196,000 after purchasing an additional 23,283 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Teva Pharmaceutical Industries by 7.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock valued at $10,983,000 after buying an additional 33,277 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Teva Pharmaceutical Industries by 21.8% during the third quarter. Thrivent Financial for Lutherans now owns 224,511 shares of the company’s stock worth $4,046,000 after buying an additional 40,218 shares during the last quarter. Sio Capital Management LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 3rd quarter worth about $24,314,000. Finally, Pinnbrook Capital Management LP bought a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $4,966,000. 54.05% of the stock is owned by institutional investors.

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.