Teva Pharmaceutical Industries (NYSE:TEVA) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a strong-buy rating to a buy rating in a research report released on Saturday.

Several other equities analysts have also recently issued reports on TEVA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Bank of America raised their price target on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. lifted their price target on Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Scotiabank started coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price objective on the stock. Finally, Barclays started coverage on shares of Teva Pharmaceutical Industries in a report on Tuesday, December 9th. They set an “overweight” rating and a $35.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.25.

Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock opened at $30.10 on Friday. The company has a market cap of $34.52 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 1.77 and a beta of 0.66. Teva Pharmaceutical Industries has a one year low of $12.47 and a one year high of $30.44. The business has a fifty day moving average of $23.63 and a two-hundred day moving average of $19.71. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.82 and a current ratio of 1.11.

Insider Activity at Teva Pharmaceutical Industries

In related news, insider Mark Sabag sold 216,892 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total value of $6,231,307.16. Following the sale, the insider directly owned 52,828 shares of the company’s stock, valued at approximately $1,517,748.44. This trade represents a 80.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Daniell sold 115,468 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $28.68, for a total transaction of $3,311,622.24. Following the completion of the sale, the vice president owned 48,384 shares of the company’s stock, valued at approximately $1,387,653.12. The trade was a 70.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 532,360 shares of company stock worth $14,364,929. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in the stock. Cromwell Holdings LLC increased its holdings in shares of Teva Pharmaceutical Industries by 40.3% during the 3rd quarter. Cromwell Holdings LLC now owns 2,191 shares of the company’s stock worth $44,000 after buying an additional 629 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Teva Pharmaceutical Industries in the second quarter valued at $41,000. Rothschild Investment LLC grew its position in Teva Pharmaceutical Industries by 97.0% during the third quarter. Rothschild Investment LLC now owns 2,738 shares of the company’s stock valued at $55,000 after acquiring an additional 1,348 shares during the period. JFS Wealth Advisors LLC increased its stake in Teva Pharmaceutical Industries by 257.1% during the third quarter. JFS Wealth Advisors LLC now owns 2,778 shares of the company’s stock worth $56,000 after acquiring an additional 2,000 shares during the last quarter. Finally, LRI Investments LLC increased its stake in Teva Pharmaceutical Industries by 246.0% during the third quarter. LRI Investments LLC now owns 2,813 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the last quarter. 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.