Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 12-Month High Following Analyst Upgrade

Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reached a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $40.00 to $42.00. Barclays currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as high as $37.39 and last traded at $36.9120, with a volume of 767207 shares changing hands. The stock had previously closed at $36.74.

TEVA has been the topic of a number of other reports. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Truist Financial boosted their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Finally, UBS Group raised their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $34.10, for a total value of $3,633,798.30. Following the transaction, the executive vice president owned 65,621 shares of the company’s stock, valued at approximately $2,237,676.10. This trade represents a 61.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. X Square Capital LLC purchased a new position in Teva Pharmaceutical Industries in the second quarter worth $1,905,000. Victrix Investment Advisors increased its position in shares of Teva Pharmaceutical Industries by 9.5% during the 2nd quarter. Victrix Investment Advisors now owns 7,850 shares of the company’s stock valued at $266,000 after purchasing an additional 681 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Teva Pharmaceutical Industries by 128.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,056,017 shares of the company’s stock worth $103,538,000 after purchasing an additional 1,716,315 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 11,361 shares of the company’s stock worth $385,000 after buying an additional 1,859 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Teva Pharmaceutical Industries by 15.8% during the second quarter. Versant Capital Management Inc now owns 10,265 shares of the company’s stock valued at $348,000 after buying an additional 1,399 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Price Performance

The business’s fifty day moving average is $33.43 and its 200-day moving average is $32.93. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market cap of $42.90 billion, a PE ratio of 61.39, a P/E/G ratio of 3.90 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%.The business had revenue of $4.14 billion during the quarter. On average, research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.96 earnings per share for the current fiscal year.

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.