StockNews.com Upgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Strong-Buy

StockNews.com upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a buy rating to a strong-buy rating in a research report released on Thursday.

Several other equities analysts have also recently weighed in on the stock. Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 30th. UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of 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 reissued an overweight rating and issued a $20.00 target price (up from $19.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, May 13th. Finally, Argus raised shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries presently has an average rating of Moderate Buy and an average price target of $18.56.

Teva Pharmaceutical Industries Price Performance

NYSE TEVA opened at $16.81 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.20. Teva Pharmaceutical Industries has a 12-month low of $8.06 and a 12-month high of $17.69. The company has a market capitalization of $19.03 billion, a PE ratio of -40.99, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. The firm’s 50 day moving average is $16.75 and its 200-day moving average is $14.48.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Teva Pharmaceutical Industries had a negative net margin of 2.88% and a positive return on equity of 37.33%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.70 billion. Equities research analysts anticipate that Teva Pharmaceutical Industries will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total value of $8,838,570.00. Following the completion of the transaction, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total value of $8,838,570.00. Following the completion of the transaction, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amir Weiss sold 15,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $16.80, for a total value of $260,400.00. Following the transaction, the chief accounting officer now directly owns 17,814 shares of the company’s stock, valued at approximately $299,275.20. The disclosure for this sale can be found here. Insiders sold a total of 549,719 shares of company stock valued at $9,353,736 over the last quarter. 0.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TEVA. Clal Insurance Enterprises Holdings Ltd raised its stake in Teva Pharmaceutical Industries by 7.1% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 32,804,131 shares of the company’s stock worth $342,788,000 after acquiring an additional 2,188,212 shares in the last quarter. Meitav Investment House Ltd. raised its stake in Teva Pharmaceutical Industries by 82.8% during the fourth quarter. Meitav Investment House Ltd. now owns 4,305,674 shares of the company’s stock worth $44,914,000 after acquiring an additional 1,950,500 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Teva Pharmaceutical Industries by 6.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,919,540 shares of the company’s stock worth $301,920,000 after acquiring an additional 1,860,000 shares in the last quarter. Maple Rock Capital Partners Inc. grew its holdings in shares of 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 worth $61,568,000 after purchasing an additional 1,770,000 shares during the last quarter. Finally, Glenview Capital Management LLC bought a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth about $16,752,000. Institutional investors and hedge funds 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.