Teva Pharmaceutical Industries (NYSE:TEVA) Shares Down 4.6% After Analyst Downgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share price was down 4.6% on Thursday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as low as $17.62 and last traded at $17.69. Approximately 18,918,568 shares traded hands during trading, an increase of 58% from the average daily volume of 11,937,447 shares. The stock had previously closed at $18.54.

A number of other brokerages have also recently commented on TEVA. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their price target on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Barclays lowered their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Christine Fox sold 19,388 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total transaction of $327,075.56. Following the completion of the transaction, the executive vice president now owns 44,104 shares of the company’s stock, valued at $744,034.48. This represents a 30.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roberto Mignone sold 286,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the transaction, the director now directly owns 695,000 shares of the company’s stock, valued at $15,296,950. This trade represents a 29.15 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp lifted its holdings in shares of Teva Pharmaceutical Industries by 54.0% in the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock valued at $1,196,000 after acquiring an additional 23,283 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Teva Pharmaceutical Industries by 21.8% in 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 purchased a new stake in Teva Pharmaceutical Industries in the 3rd quarter worth about $24,314,000. CWA Asset Management Group LLC purchased a new stake in Teva Pharmaceutical Industries in the 4th quarter worth about $3,340,000. Finally, Two Sigma Advisers LP raised its position in Teva Pharmaceutical Industries by 15.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,034,500 shares of the company’s stock worth $18,642,000 after purchasing an additional 137,000 shares during the period. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Price Performance

The company has a market capitalization of $20.17 billion, a PE ratio of -12.28, a price-to-earnings-growth ratio of 0.97 and a beta of 0.73. The stock’s 50-day moving average is $20.00 and its two-hundred day moving average is $18.48. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 40.20%. On average, equities analysts predict that Teva Pharmaceutical Industries Limited will post 2.62 EPS 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.