Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 52-Week High – Still a Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)’s stock price hit a new 52-week high during trading on Friday. The stock traded as high as $42.12 and last traded at $42.2940, with a volume of 476,944 shares traded. The stock had previously closed at $41.47.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Oppenheimer upped their price target on shares of Teva Pharmaceutical Industries from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. TD Cowen began coverage on shares of Teva Pharmaceutical Industries in a research report on Thursday, October 1st. They set a “buy” rating and a $55.00 price target for the company. UBS Group increased their price target on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the company a “buy” rating in a report on Friday, September 4th. Finally, Zacks Research lowered Teva Pharmaceutical Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Teva Pharmaceutical Industries Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67. The company’s 50-day simple moving average is $38.97 and its 200-day simple moving average is $34.50. The company has a market cap of $49.13 billion, a price-to-earnings ratio of 70.37, a P/E/G ratio of 3.71 and a beta of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. The business 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%. On average, equities research analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.00 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 367,600 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $39.06, for a total transaction of $14,358,456.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Savage sold 7,342 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $38.85, for a total value of $285,236.70. Following the sale, the insider directly owned 8,500 shares in the company, valued at approximately $330,225. The trade was a 46.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 374,959 shares of company stock worth $14,644,285 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently made changes to their positions in the business. WCM Investment Management LLC grew its position in shares of Teva Pharmaceutical Industries by 191.4% during the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock worth $1,157,264,000 after buying an additional 26,813,522 shares in the last quarter. SEB Asset Management AB acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at $59,551,000. Assenagon Asset Management S.A. raised its holdings in Teva Pharmaceutical Industries by 128.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,056,017 shares of the company’s stock valued at $103,538,000 after acquiring an additional 1,716,315 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Teva Pharmaceutical Industries by 2.2% during 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 acquiring an additional 1,004,941 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in Teva Pharmaceutical Industries during the 2nd quarter valued at $33,799,000. 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. Founded in 1901, the company is one of the world’s largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva’s portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.