Teva Pharmaceutical Industries (NYSE:TEVA) Rating Increased 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 report sent to investors on Saturday morning.

A number of other equities analysts have also recently issued reports on TEVA. UBS Group upped their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped 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 report on Thursday, June 27th. Argus upgraded shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Wednesday, July 10th. Barclays upped their price objective on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated an overweight rating and set a $20.00 price objective (up from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Two 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 company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $18.67.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $16.69 on Friday. The firm has a 50 day moving average of $16.79 and a 200-day moving average of $14.76. The stock has a market capitalization of $18.90 billion, a PE ratio of -39.98, a PEG ratio of 1.49 and a beta of 0.90. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.52. Teva Pharmaceutical Industries has a 12 month low of $8.06 and a 12 month high of $18.02.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its 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). The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.70 billion. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. On average, equities research analysts predict that Teva Pharmaceutical Industries will post 2.35 EPS for the current fiscal year.

Insider Activity

In related news, Director Roberto Mignone sold 519,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the transaction, the director now directly owns 981,000 shares of the company’s stock, valued at $16,706,430. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Eric A. Hughes sold 24,537 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total transaction of $423,263.25. Following the completion of the transaction, the insider now owns 45,060 shares of the company’s stock, valued at $777,285. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the transaction, the director now directly owns 981,000 shares of the company’s stock, valued at approximately $16,706,430. The disclosure for this sale can be found here. In the last three months, insiders have sold 574,256 shares of company stock valued at $9,776,999. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. Raymond James & Associates grew its position in Teva Pharmaceutical Industries by 2.4% during the 4th quarter. Raymond James & Associates now owns 206,713 shares of the company’s stock valued at $2,158,000 after purchasing an additional 4,885 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Teva Pharmaceutical Industries by 92.3% during the 4th quarter. Blue Trust Inc. now owns 4,541 shares of the company’s stock valued at $46,000 after acquiring an additional 2,180 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Teva Pharmaceutical Industries by 2.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 67,996 shares of the company’s stock valued at $688,000 after acquiring an additional 1,375 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 80.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,990 shares of the company’s stock valued at $303,000 after acquiring an additional 12,882 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 4.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 110,338 shares of the company’s stock valued at $1,152,000 after acquiring an additional 5,137 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

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.