Teva Pharmaceutical Industries (TEVA) Debt Trading 1.1% Higher
An issue of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) debt rose 1.1% as a percentage of its face value during trading on Thursday. The debt issue has a 3.15% coupon and will mature on October 1, 2026. The debt is now trading at $84.25 and was trading at $82.88 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
TEVA has been the topic of several research analyst reports. Citigroup set a $25.00 price objective on Teva Pharmaceutical Industries and gave the company a “buy” rating in a research note on Thursday, May 31st. Barclays set a $23.00 price objective on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Thursday, August 2nd. Mizuho reiterated a “buy” rating and issued a $27.00 price objective on shares of Teva Pharmaceutical Industries in a research note on Thursday, August 2nd. Cantor Fitzgerald set a $25.00 target price on Teva Pharmaceutical Industries and gave the stock a “hold” rating in a research report on Friday, July 13th. Finally, Morgan Stanley increased their target price on Teva Pharmaceutical Industries from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, August 3rd. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $20.70.
Shares of TEVA stock traded up $0.01 on Thursday, reaching $22.21. The company’s stock had a trading volume of 10,359,500 shares, compared to its average volume of 12,831,347. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.69 and a current ratio of 1.03. Teva Pharmaceutical Industries Ltd has a 12-month low of $10.85 and a 12-month high of $25.96. The company has a market capitalization of $22.25 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.69.
In related news, EVP Iris Beck Codner sold 4,165 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $22.70, for a total value of $94,545.50. Following the sale, the executive vice president now owns 8,290 shares in the company, valued at $188,183. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sven Dethlefs acquired 2,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was acquired at an average price of $21.92 per share, for a total transaction of $43,840.00. Following the transaction, the executive vice president now directly owns 6,445 shares of the company’s stock, valued at approximately $141,274.40. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management bought a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $204,000. Bank of Nova Scotia bought a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $299,000. Miller Value Partners LLC grew its stake in shares of Teva Pharmaceutical Industries by 17.9% during the second quarter. Miller Value Partners LLC now owns 2,588,612 shares of the company’s stock valued at $62,955,000 after buying an additional 393,640 shares during the last quarter. HPM Partners LLC grew its stake in shares of Teva Pharmaceutical Industries by 25.4% during the second quarter. HPM Partners LLC now owns 14,657 shares of the company’s stock valued at $356,000 after buying an additional 2,971 shares during the last quarter. Finally, Jafra Capital Management LP bought a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $7,661,000. 64.52% of the stock is currently owned by institutional investors and hedge funds.
About Teva Pharmaceutical Industries (NYSE:TEVA)
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.
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