Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – What’s Next?

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) 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.

Analyst Upgrades and Downgrades

TEVA has been the subject of several recent research reports. UBS Group lowered their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday. Barclays decreased their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Teva Pharmaceutical Industries Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The business has a fifty day moving average price of $19.97 and a 200-day moving average price of $18.48.

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 negative net margin of 9.91% and a positive return on equity of 40.20%. On average, research analysts predict that Teva Pharmaceutical Industries Limited will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 695,000 shares in the company, valued at approximately $15,296,950. This trade represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christine Fox sold 19,388 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total value of $327,075.56. Following the sale, the executive vice president now directly owns 44,104 shares in the company, valued at $744,034.48. This trade represents 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

A number of hedge funds and other institutional investors have recently modified their holdings of TEVA. FMR LLC raised its position in Teva Pharmaceutical Industries by 49.5% during the third quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after purchasing an additional 20,762,226 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in Teva Pharmaceutical Industries by 6.8% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock worth $621,337,000 after acquiring an additional 2,204,623 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Teva Pharmaceutical Industries by 2.2% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,035,422 shares of the company’s stock valued at $573,822,000 after buying an additional 569,412 shares during the period. State Street Corp increased its holdings in shares of Teva Pharmaceutical Industries by 10.0% in the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company’s stock valued at $351,402,000 after acquiring an additional 1,778,268 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in Teva Pharmaceutical Industries by 16.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 9,222,695 shares of the company’s stock worth $203,268,000 after purchasing an additional 1,329,319 shares in 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.