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

StockNews.com cut shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a strong-buy rating to a buy rating in a report published on Monday morning.

Other research analysts have also issued research reports about the stock. UBS Group lifted their price target on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, September 3rd. Argus raised shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Wednesday, July 10th. Bank of America lifted their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 30th. Jefferies Financial Group upped their price objective on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Finally, Barclays lifted their target price on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $18.89.

Teva Pharmaceutical Industries Trading Up 1.6 %

TEVA opened at $17.74 on Monday. Teva Pharmaceutical Industries has a 12 month low of $8.06 and a 12 month high of $19.08. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The company has a fifty day simple moving average of $17.75 and a 200 day simple moving average of $16.18.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.99 billion. On average, analysts predict that Teva Pharmaceutical Industries will post 2.33 EPS for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

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 transaction, the insider now directly owns 45,060 shares in the company, valued at $777,285. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. bought a new position in shares of Teva Pharmaceutical Industries during the 2nd quarter worth approximately $228,000. Sanctuary Advisors LLC acquired a new stake in Teva Pharmaceutical Industries during the 2nd quarter valued at $560,000. Cetera Investment Advisers boosted its position in 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 purchasing an additional 27,765 shares during the period. Truist Financial Corp increased its holdings in shares of Teva Pharmaceutical Industries by 7.0% in the second quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock valued at $63,135,000 after purchasing an additional 254,483 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Teva Pharmaceutical Industries by 38.0% in the second quarter. Point72 Asset Management L.P. now owns 1,319,217 shares of the company’s stock valued at $21,437,000 after purchasing 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.