Short Interest in Teva Pharmaceutical Industries Limited (NYSE:TEVA) Declines By 18.7%

Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 19,910,000 shares, a decline of 18.7% from the September 30th total of 24,490,000 shares. Based on an average daily volume of 7,430,000 shares, the days-to-cover ratio is presently 2.7 days.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock traded up $0.16 during trading hours on Wednesday, reaching $18.59. 6,343,361 shares of the company traded hands, compared to its average volume of 9,307,149. Teva Pharmaceutical Industries has a 12-month low of $8.42 and a 12-month high of $19.08. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59. The company has a market cap of $21.05 billion, a P/E ratio of -45.33, a P/E/G ratio of 1.29 and a beta of 0.88. The firm has a 50-day moving average price of $18.02 and a 200 day moving average price of $16.87.

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $3.99 billion. As a group, sell-side analysts predict that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TEVA shares. UBS Group lifted their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 10th. Barclays lifted their price objective on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and an average price target of $19.67.

Get Our Latest Analysis on TEVA

Insider Transactions at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the completion of the transaction, the insider now owns 45,060 shares of the company’s stock, valued at $777,285. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. New Covenant Trust Company N.A. purchased a new position in shares of Teva Pharmaceutical Industries during the 1st quarter valued at about $28,000. EntryPoint Capital LLC purchased a new position in Teva Pharmaceutical Industries in the 1st quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in Teva Pharmaceutical Industries by 555.6% in the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after purchasing an additional 2,067 shares in the last quarter. Beach Investment Counsel Inc. PA purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth approximately $48,000. Finally, Byrne Asset Management LLC purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth approximately $52,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Company Profile

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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.

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