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

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share price fell 4.6% during trading on Thursday after Barclays lowered their price target on the stock from $28.00 to $26.00. Barclays currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as low as $17.62 and last traded at $17.69. 18,918,568 shares were traded during mid-day trading, an increase of 58% from the average session volume of 11,937,447 shares. The stock had previously closed at $18.54.

TEVA has been the topic of a number of other reports. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their price objective on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, UBS Group lifted their target price on shares of Teva Pharmaceutical Industries from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.38.

Insider Buying and Selling at Teva Pharmaceutical Industries

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

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in Teva Pharmaceutical Industries by 49.5% in the third quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after acquiring an additional 20,762,226 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Teva Pharmaceutical Industries by 6.8% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock valued at $621,337,000 after purchasing an additional 2,204,623 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Teva Pharmaceutical Industries by 2.2% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,035,422 shares of the company’s stock valued at $573,822,000 after purchasing an additional 569,412 shares during the last quarter. State Street Corp grew its position in shares of Teva Pharmaceutical Industries by 10.0% during the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company’s stock worth $351,402,000 after buying an additional 1,778,268 shares during the period. Finally, AustralianSuper Pty Ltd raised its stake in shares of Teva Pharmaceutical Industries by 16.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 9,222,695 shares of the company’s stock worth $203,268,000 after buying an additional 1,329,319 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

The firm has a market capitalization of $20.04 billion, a P/E ratio of -20.81, a P/E/G ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.89 and a quick ratio of 0.61. The stock’s 50 day moving average is $19.97 and its two-hundred day moving average is $18.48.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 42.92%. As a group, equities analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.37 earnings per share for the current fiscal year.

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.