Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 12-Month High Following Strong Earnings

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $19.20 and last traded at $19.13, with a volume of 246957 shares. The stock had previously closed at $18.77.

The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Teva Pharmaceutical Industries had a positive return on equity of 41.43% and a negative net margin of 5.73%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.08 billion.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays boosted their price target on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, UBS Group boosted their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its holdings in Teva Pharmaceutical Industries by 3.0% during the first quarter. Nordea Investment Management AB now owns 91,837 shares of the company’s stock valued at $1,299,000 after purchasing an additional 2,701 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Teva Pharmaceutical Industries in the 1st quarter worth approximately $93,000. SG Americas Securities LLC raised its stake in Teva Pharmaceutical Industries by 12.0% during the 1st quarter. SG Americas Securities LLC now owns 610,407 shares of the company’s stock worth $8,613,000 after acquiring an additional 65,529 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Teva Pharmaceutical Industries by 9.6% during the first quarter. Oppenheimer & Co. Inc. now owns 13,522 shares of the company’s stock valued at $191,000 after purchasing an additional 1,180 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its position in shares of Teva Pharmaceutical Industries by 50.7% in the first quarter. ClariVest Asset Management LLC now owns 591,000 shares of the company’s stock worth $8,339,000 after purchasing an additional 198,700 shares during the period. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Price Performance

The stock’s 50 day moving average price is $17.98 and its 200-day moving average price is $17.07. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59.

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.