Teva Pharmaceutical Industries (NYSE:TEVA) Given New $40.00 Price Target at Barclays

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target hoisted by Barclays from $38.00 to $40.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Jefferies Financial Group raised their target price on shares of Teva Pharmaceutical Industries from $29.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Scotiabank boosted their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock a “sector outperform” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $42.00 price objective (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Teva Pharmaceutical Industries has an average rating of “Moderate Buy” and an average target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $36.36 on Wednesday. Teva Pharmaceutical Industries has a 12-month low of $14.99 and a 12-month high of $37.35. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The business has a 50 day simple moving average of $31.24 and a 200 day simple moving average of $29.69.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The firm had revenue of $3.98 billion for the quarter. On average, equities research analysts anticipate that Teva Pharmaceutical Industries will post 2.49 EPS for the current year.

Insider Activity at Teva Pharmaceutical Industries

In related news, CEO Richard D. Francis sold 442,935 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $32.36, for a total transaction of $14,333,376.60. Following the completion of the sale, the chief executive officer directly owned 642,099 shares of the company’s stock, valued at $20,778,323.64. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine Fox sold 21,258 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $35.31, for a total transaction of $750,619.98. Following the sale, the executive vice president owned 63,647 shares of the company’s stock, valued at $2,247,375.57. The trade was a 25.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,086,339 shares of company stock worth $35,852,268. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of Teva Pharmaceutical Industries by 27.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $42,000 after purchasing an additional 292 shares during the period. Captrust Financial Advisors increased its stake in Teva Pharmaceutical Industries by 2.1% in the 4th quarter. Captrust Financial Advisors now owns 14,715 shares of the company’s stock worth $459,000 after purchasing an additional 302 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Teva Pharmaceutical Industries by 6.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company’s stock worth $160,000 after buying an additional 306 shares during the period. Ethic Inc. lifted its stake in Teva Pharmaceutical Industries by 1.8% during the fourth quarter. Ethic Inc. now owns 18,127 shares of the company’s stock valued at $566,000 after buying an additional 325 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock worth $29,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

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.