UBS Group Boosts Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $24.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price lifted by UBS Group from $22.00 to $24.00 in a research note published on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

TEVA has been the topic of several other research reports. Barclays increased their price target on Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the company an overweight rating in a report on Wednesday, June 5th. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a strong-buy rating to a buy rating in a research note on Monday, May 20th. 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 research note on Wednesday. Bank of America raised their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group raised 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 and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $18.56.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $17.29 on Wednesday. Teva Pharmaceutical Industries has a 12 month low of $7.95 and a 12 month high of $17.69. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average is $16.60 and its two-hundred day moving average is $14.10.

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

Insider Buying and Selling

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

Institutional Trading of Teva Pharmaceutical Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its position in shares of Teva Pharmaceutical Industries by 1.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 399,508 shares of the company’s stock worth $4,075,000 after buying an additional 6,200 shares during the period. Wellington Management Group LLP grew its position in shares of Teva Pharmaceutical Industries by 42.2% in the 3rd quarter. Wellington Management Group LLP now owns 344,587 shares of the company’s stock valued at $3,515,000 after purchasing an additional 102,261 shares during the period. Nordea Investment Management AB grew its position in shares of Teva Pharmaceutical Industries by 1.7% in the 4th quarter. Nordea Investment Management AB now owns 89,136 shares of the company’s stock valued at $931,000 after purchasing an additional 1,521 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Teva Pharmaceutical Industries by 28.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 41,882 shares of the company’s stock valued at $437,000 after purchasing an additional 9,312 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Teva Pharmaceutical Industries by 31.7% in the 4th quarter. SG Americas Securities LLC now owns 544,878 shares of the company’s stock valued at $5,689,000 after purchasing an additional 131,043 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.