Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 52-Week High – Time to Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $38.42 and last traded at $38.5010, with a volume of 862605 shares trading hands. The stock had previously closed at $37.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Piper Sandler increased their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Leerink Partners began coverage on shares of Teva Pharmaceutical Industries in a report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price objective for the company. Barclays lifted their target price on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Teva Pharmaceutical Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 8th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Teva Pharmaceutical Industries Trading Up 5.4%

The company’s fifty day moving average price is $34.91 and its two-hundred day moving average price is $33.37. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. The firm has a market cap of $45.57 billion, a P/E ratio of 65.18, a price-to-earnings-growth ratio of 4.62 and a beta of 0.87.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. As a group, sell-side analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. raised its position in Teva Pharmaceutical Industries by 2.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company’s stock valued at $1,384,216,000 after purchasing an additional 1,004,941 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Teva Pharmaceutical Industries by 3,376.3% during the second quarter. California State Teachers Retirement System now owns 43,270,486 shares of the company’s stock worth $1,466,004,000 after purchasing an additional 42,025,742 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock valued at $1,157,264,000 after buying an additional 26,813,522 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Teva Pharmaceutical Industries by 18.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company’s stock valued at $1,171,378,000 after buying an additional 5,917,423 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at about $1,098,060,000. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. The company develops, manufactures and markets generic medicines, innovative specialty medicines, biosimilars, over-the-counter products and active pharmaceutical ingredients. Its portfolio serves a broad range of therapeutic areas, including central nervous system disorders, respiratory conditions, migraine, oncology and movement disorders.

Teva’s specialty medicines include treatments for conditions such as multiple sclerosis, migraine and tardive dyskinesia, while its generic medicines business supplies products across numerous therapeutic categories and dosage forms.