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

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

A number of other analysts also recently issued reports on the stock. Bank of America boosted their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Jefferies Financial Group upped their price objective on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. UBS Group boosted their target price on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Argus raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, July 10th. Finally, Barclays upped their price objective 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA traded up $0.21 during midday trading on Monday, reaching $17.72. The stock had a trading volume of 5,322,384 shares, compared to its average volume of 9,915,385. The firm has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $16.13. Teva Pharmaceutical Industries has a one year low of $8.06 and a one year high of $19.08. The firm has a market cap of $20.07 billion, a PE ratio of -43.22, a P/E/G ratio of 1.26 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 the consensus estimate 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 negative net margin of 2.73% and a positive return on equity of 39.66%. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.33 EPS for the current year.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction 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 transaction, the insider now owns 45,060 shares in the company, valued at $777,285. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its holdings in Teva Pharmaceutical Industries by 14.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,138 shares of the company’s stock worth $168,000 after buying an additional 2,041 shares during the last quarter. Norges Bank bought a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at approximately $14,376,000. Hsbc Holdings PLC raised its stake in Teva Pharmaceutical Industries by 242.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,597,178 shares of the company’s stock valued at $16,667,000 after purchasing an additional 1,130,969 shares in the last quarter. United Services Automobile Association grew its stake in Teva Pharmaceutical Industries by 21.9% in the 4th quarter. United Services Automobile Association now owns 38,386 shares of the company’s stock worth $401,000 after buying an additional 6,886 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Teva Pharmaceutical Industries by 1.4% in the 4th quarter. TD Asset Management Inc now owns 227,488 shares of the company’s stock worth $2,375,000 after buying an additional 3,053 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

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.