Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 52-Week High Following Analyst Upgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares hit a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock from $24.00 to $26.00. UBS Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as high as $19.03 and last traded at $18.92, with a volume of 1113636 shares trading hands. The stock had previously closed at $18.52.

TEVA has been the topic of several other research reports. Jefferies Financial Group upped their price objective on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a report on Monday, May 13th. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, July 10th. Finally, Barclays upped their price target on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Insider Transactions at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 519,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the sale, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total transaction of $423,263.25. Following the sale, the insider now owns 45,060 shares in the company, valued at approximately $777,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the transaction, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

Large investors have recently bought and sold shares of the business. Lingotto Investment Management LLP increased its position in Teva Pharmaceutical Industries by 1.8% in the 4th quarter. Lingotto Investment Management LLP now owns 34,457,656 shares of the company’s stock valued at $359,738,000 after acquiring an additional 607,800 shares during the period. Sound Shore Management Inc. CT increased its position in shares of Teva Pharmaceutical Industries by 12.6% during the fourth quarter. Sound Shore Management Inc. CT now owns 8,919,234 shares of the company’s stock worth $93,117,000 after buying an additional 998,522 shares during the period. Renaissance Technologies LLC lifted its holdings in Teva Pharmaceutical Industries by 13.4% in the second quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company’s stock valued at $141,839,000 after buying an additional 1,031,400 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Teva Pharmaceutical Industries by 68.3% during the first quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock valued at $61,568,000 after acquiring an additional 1,770,000 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Teva Pharmaceutical Industries by 7.0% during the 2nd quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock worth $63,135,000 after acquiring an additional 254,483 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

The stock has a market capitalization of $20.88 billion, a P/E ratio of -44.95, a price-to-earnings-growth ratio of 1.30 and a beta of 0.88. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. The company has a 50-day moving average price of $17.34 and a two-hundred day moving average price of $15.69.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. On average, equities analysts forecast that Teva Pharmaceutical Industries Limited will post 2.35 earnings per share for the current year.

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.