Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $40.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price upped by Piper Sandler from $30.00 to $40.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Barclays started coverage on Teva Pharmaceutical Industries in a report on Tuesday, December 9th. They set an “overweight” rating and a $35.00 target price for the company. Scotiabank assumed coverage on Teva Pharmaceutical Industries in a research note on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price target for the company. Finally, UBS Group lifted their price target on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.88.

Teva Pharmaceutical Industries Stock Up 0.7%

Shares of NYSE TEVA opened at $31.77 on Monday. The firm’s fifty day moving average is $25.13 and its 200 day moving average is $20.36. Teva Pharmaceutical Industries has a 52 week low of $12.47 and a 52 week high of $31.99. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 1.88 and a beta of 0.67.

Insider Buying and Selling

In other news, VP Richard Daniell sold 115,468 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total value of $3,311,622.24. Following the completion of the transaction, the vice president owned 48,384 shares of the company’s stock, valued at $1,387,653.12. The trade was a 70.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amir Weiss sold 12,300 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $30.20, for a total transaction of $371,460.00. Following the sale, the chief accounting officer directly owned 5,650 shares in the company, valued at $170,630. This trade represents a 68.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 622,060 shares of company stock worth $17,076,965 over the last three months. 0.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Teva Pharmaceutical Industries by 51.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,390,327 shares of the company’s stock worth $559,622,000 after purchasing an additional 11,334,780 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its holdings in Teva Pharmaceutical Industries by 31.9% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 38,493,294 shares of the company’s stock worth $645,148,000 after buying an additional 9,303,978 shares in the last quarter. Phoenix Financial Ltd. increased its holdings in Teva Pharmaceutical Industries by 31.7% in the 2nd quarter. Phoenix Financial Ltd. now owns 37,761,444 shares of the company’s stock worth $632,882,000 after buying an additional 9,094,372 shares in the last quarter. Soundwatch Capital LLC purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth about $143,533,000. Finally, Wellington Management Group LLP lifted its stake in Teva Pharmaceutical Industries by 39,228.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after acquiring an additional 6,878,304 shares during the period. 54.05% of the stock is owned by hedge funds and other institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.