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

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other equities research analysts also recently weighed in on TEVA. 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. Barclays raised their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. UBS Group upped their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group raised their price target on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Teva Pharmaceutical Industries Trading Down 1.2 %

TEVA opened at $17.46 on Thursday. Teva Pharmaceutical Industries has a 12 month low of $8.06 and a 12 month high of $19.08. The stock has a fifty day moving average price of $17.80 and a 200-day moving average price of $16.31. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of -42.59, a PEG ratio of 1.21 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.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Wednesday, July 31st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. As a group, equities research analysts anticipate that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares in the company, valued at $777,285. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maple Rock Capital Partners Inc. raised its stake in shares of Teva Pharmaceutical Industries by 68.3% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock valued at $61,568,000 after buying an additional 1,770,000 shares during the last quarter. Glenview Capital Management LLC acquired a new stake in Teva Pharmaceutical Industries during the fourth quarter worth about $16,752,000. Iron Triangle Partners LP raised its position in Teva Pharmaceutical Industries by 113.1% during the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after acquiring an additional 1,469,864 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Teva Pharmaceutical Industries in the second quarter valued at approximately $23,115,000. Finally, Davidson Kempner Capital Management LP boosted its position in Teva Pharmaceutical Industries by 152.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 1,765,485 shares of the company’s stock worth $28,689,000 after purchasing an additional 1,066,150 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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.