StockNews.com Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group boosted their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Argus upgraded 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. Bank of America upped their price objective on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays upped their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, UBS Group upped their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.89.

Teva Pharmaceutical Industries Trading Up 0.1 %

TEVA stock opened at $17.73 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.59 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 $19.08. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -43.24, a PEG ratio of 1.26 and a beta of 0.88. The business’s 50-day moving average is $17.70 and its 200 day moving average is $16.16.

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

Insider Buying and Selling

In related news, insider Eric A. Hughes sold 24,537 shares of the business’s stock in a transaction 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 in the company, valued at $777,285. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several large investors have recently bought and sold shares of TEVA. Centaurus Financial Inc. acquired a new stake in shares of Teva Pharmaceutical Industries during the second quarter worth about $228,000. Sanctuary Advisors LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the second quarter worth about $560,000. Cetera Investment Advisers boosted its stake in shares of Teva Pharmaceutical Industries by 83.9% during the second quarter. Cetera Investment Advisers now owns 60,868 shares of the company’s stock worth $989,000 after buying an additional 27,765 shares during the period. Truist Financial Corp boosted its stake in shares of Teva Pharmaceutical Industries by 7.0% during the second quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock worth $63,135,000 after buying an additional 254,483 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Teva Pharmaceutical Industries by 38.0% during the second quarter. Point72 Asset Management L.P. now owns 1,319,217 shares of the company’s stock worth $21,437,000 after buying an additional 363,217 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.