Jefferies Financial Group Forecasts Strong Price Appreciation for Teva Pharmaceutical Industries (NYSE:TEVA) Stock

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective lifted by stock analysts at Jefferies Financial Group from $29.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 24.28% from the company’s previous close.

A number of other equities research analysts also recently issued reports on TEVA. The Goldman Sachs Group increased their target price on shares of Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Scotiabank initiated coverage on shares of Teva Pharmaceutical Industries in a research note on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price target on the stock. UBS Group increased their price objective on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Finally, Bank of America upped their target price on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.67.

Teva Pharmaceutical Industries Stock Up 3.8%

Shares of NYSE TEVA traded up $1.19 during mid-day trading on Tuesday, reaching $32.19. The company had a trading volume of 13,610,965 shares, compared to its average volume of 12,098,926. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.82 and a current ratio of 1.11. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 1.79 and a beta of 0.66. The stock has a fifty day moving average of $27.07 and a two-hundred day moving average of $21.17. Teva Pharmaceutical Industries has a 12-month low of $12.47 and a 12-month high of $32.91.

Insider Buying and Selling

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 stock was sold at an average price of $28.73, for a total value of $6,231,307.16. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roberto Mignone sold 77,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $30.24, for a total value of $2,340,576.00. Following the completion of the sale, the director owned 367,600 shares of the company’s stock, valued at approximately $11,116,224. This trade represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 622,060 shares of company stock worth $17,076,965 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors have recently modified their holdings of the company. Union Bancaire Privee UBP SA boosted its holdings in shares of Teva Pharmaceutical Industries by 3,831.4% during the 4th quarter. Union Bancaire Privee UBP SA now owns 786,272 shares of the company’s stock worth $23,733,000 after buying an additional 766,272 shares during the period. GAMMA Investing LLC boosted its holdings in Teva Pharmaceutical Industries by 16.9% during the fourth quarter. GAMMA Investing LLC now owns 9,752 shares of the company’s stock valued at $304,000 after acquiring an additional 1,408 shares during the period. Hudson Bay Capital Management LP grew its position in shares of Teva Pharmaceutical Industries by 87.5% in the third quarter. Hudson Bay Capital Management LP now owns 225,000 shares of the company’s stock valued at $4,545,000 after purchasing an additional 105,000 shares during the last quarter. Steadtrust LLC grew its position in shares of Teva Pharmaceutical Industries by 58.1% in the third quarter. Steadtrust LLC now owns 37,300 shares of the company’s stock valued at $753,000 after purchasing an additional 13,700 shares during the last quarter. Finally, Cantor Fitzgerald L. P. bought a new position in shares of Teva Pharmaceutical Industries in the third quarter worth about $1,392,000. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.