Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 52-Week High After Analyst Upgrade

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)’s stock price reached a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from $29.00 to $40.00. Jefferies Financial Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as high as $32.91 and last traded at $32.43, with a volume of 4682391 shares trading hands. The stock had previously closed at $31.00.

Several other equities analysts also recently weighed in on the company. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Scotiabank began coverage on Teva Pharmaceutical Industries in a research report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, UBS Group upped their price target on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.67.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, CAO Amir Weiss sold 12,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $30.20, for a total transaction of $371,460.00. Following the completion of the transaction, the chief accounting officer owned 5,650 shares in the company, valued at $170,630. This trade represents a 68.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roberto Mignone sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $24.11, for a total value of $4,822,000.00. Following the sale, the director directly owned 495,000 shares in the company, valued at $11,934,450. This trade represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 622,060 shares of company stock worth $17,076,965 in the last three months. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently made changes to their positions in TEVA. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Teva Pharmaceutical Industries by 51.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,390,327 shares of the company’s stock valued at $559,622,000 after buying an additional 11,334,780 shares during the period. Menora Mivtachim Holdings LTD. increased its holdings in shares of 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 valued at $645,148,000 after acquiring an additional 9,303,978 shares during the period. Phoenix Financial Ltd. increased its holdings in shares of Teva Pharmaceutical Industries by 31.7% in the 2nd quarter. Phoenix Financial Ltd. now owns 37,761,444 shares of the company’s stock valued at $632,882,000 after acquiring an additional 9,094,372 shares during the period. Soundwatch Capital LLC bought a new position in shares of Teva Pharmaceutical Industries in the 2nd quarter worth $143,533,000. Finally, Wellington Management Group LLP lifted its stake in shares of 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 worth $139,296,000 after purchasing an additional 6,878,304 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

The business has a 50-day moving average of $27.56 and a two-hundred day moving average of $21.35. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.11 and a quick ratio of 0.82. The company has a market cap of $37.27 billion, a P/E ratio of 54.16, a P/E/G ratio of 1.86 and a beta of 0.66.

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.