Teva Pharmaceutical Industries Limited (NYSE:TEVA) Short Interest Down 19.3% in September

Teva Pharmaceutical Industries Limited (NYSE:TEVA) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 24,490,000 shares, a drop of 19.3% from the September 15th total of 30,340,000 shares. Based on an average trading volume of 8,060,000 shares, the days-to-cover ratio is presently 3.0 days.

Teva Pharmaceutical Industries Trading Up 5.3 %

Teva Pharmaceutical Industries stock traded up $0.92 during mid-day trading on Tuesday, reaching $18.16. 8,968,885 shares of the company traded hands, compared to its average volume of 9,558,604. The firm’s 50 day moving average price is $17.89 and its 200 day moving average price is $16.54. Teva Pharmaceutical Industries has a 52-week low of $8.06 and a 52-week high of $19.08. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of -46.26, a P/E/G ratio of 1.21 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $3.99 billion. On average, analysts anticipate that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEVA has been the subject of several research reports. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group increased their target price on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Barclays raised their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group increased their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Insider Activity

In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the transaction, the insider now directly owns 45,060 shares in the company, valued at $777,285. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds have recently made changes to their positions in TEVA. Renaissance Technologies LLC boosted its stake in Teva Pharmaceutical Industries by 13.4% during the second quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company’s stock worth $141,839,000 after acquiring an additional 1,031,400 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its position in shares of Teva Pharmaceutical Industries by 68.3% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock worth $61,568,000 after purchasing an additional 1,770,000 shares in the last quarter. Truist Financial Corp grew its stake in shares of Teva Pharmaceutical Industries by 7.0% in the 2nd quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock worth $63,135,000 after buying an additional 254,483 shares during the last quarter. Iron Triangle Partners LP grew its stake in shares of Teva Pharmaceutical Industries by 113.1% in the 1st quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock worth $39,083,000 after buying an additional 1,469,864 shares during the last quarter. Finally, Tri Locum Partners LP increased its position in Teva Pharmaceutical Industries by 15.1% during the 2nd quarter. Tri Locum Partners LP now owns 2,550,307 shares of the company’s stock valued at $41,442,000 after buying an additional 334,119 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Company Profile

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.