Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – Here’s Why

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $21.53, but opened at $19.18. Teva Pharmaceutical Industries shares last traded at $18.84, with a volume of 8,414,180 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEVA. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lifted 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. Barclays increased their price objective on shares of Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. 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. Finally, UBS Group increased their price target on Teva Pharmaceutical Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.63.

Teva Pharmaceutical Industries Stock Performance

The firm’s 50 day simple moving average is $19.94 and its 200 day simple moving average is $18.47. The firm has a market cap of $21.38 billion, a PE ratio of -22.15, a PEG ratio of 1.11 and a beta of 0.73. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.92% and a negative net margin of 5.73%. On average, research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the transaction, the director now owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christine Fox sold 19,388 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.87, for a total value of $327,075.56. Following the completion of the sale, the executive vice president now owns 44,104 shares in the company, valued at approximately $744,034.48. The trade was a 30.54 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Diversify Advisory Services LLC boosted its stake in shares of Teva Pharmaceutical Industries by 2.5% during the fourth quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock valued at $426,000 after purchasing an additional 496 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Teva Pharmaceutical Industries by 1.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company’s stock valued at $601,000 after acquiring an additional 664 shares during the period. Sequoia Financial Advisors LLC raised its position 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 worth $2,025,000 after acquiring an additional 805 shares in the last quarter. DGS Capital Management LLC lifted its stake in shares of Teva Pharmaceutical Industries by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 13,627 shares of the company’s stock worth $246,000 after purchasing an additional 872 shares during the last quarter. Finally, Smithfield Trust Co boosted its position in Teva Pharmaceutical Industries by 55.7% during the third quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock valued at $50,000 after purchasing an additional 980 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other 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.