Teva Pharmaceutical Industries (NYSE:TEVA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other brokerages have also recently weighed in on TEVA. Bank of America dropped their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Barclays reduced their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. UBS Group lowered their target price on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Piper Sandler boosted their price target on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and a consensus price target of $23.43.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $16.29 on Wednesday. The stock has a 50 day moving average of $17.99 and a two-hundred day moving average of $18.25. Teva Pharmaceutical Industries has a 12 month low of $12.51 and a 12 month high of $22.80. The firm has a market cap of $18.46 billion, a P/E ratio of -11.23, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. On average, analysts expect that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 286,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $22.01, for a total value of $6,294,860.00. Following the completion of the transaction, the director now owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This trade represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently added to or reduced their stakes in TEVA. Stifel Financial Corp grew its stake in shares of Teva Pharmaceutical Industries by 54.0% in the third quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock worth $1,196,000 after acquiring an additional 23,283 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Teva Pharmaceutical Industries by 7.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock worth $10,983,000 after purchasing an additional 33,277 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Teva Pharmaceutical Industries by 21.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 224,511 shares of the company’s stock worth $4,046,000 after purchasing an additional 40,218 shares during the period. Sio Capital Management LLC acquired a new stake in Teva Pharmaceutical Industries in the 3rd quarter valued at about $24,314,000. Finally, Pinnbrook Capital Management LP purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $4,966,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.