Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $50.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective lifted by JPMorgan Chase & Co. from $40.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on the company. Leerink Partners started coverage on Teva Pharmaceutical Industries in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 target price on the stock. Piper Sandler lifted their price target on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Barclays upped their price objective on Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings raised Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Teva Pharmaceutical Industries Price Performance

TEVA stock opened at $40.83 on Monday. The firm has a 50 day simple moving average of $38.03 and a two-hundred day simple moving average of $34.76. The stock has a market cap of $47.58 billion, a PE ratio of 68.05, a P/E/G ratio of 3.83 and a beta of 0.89. Teva Pharmaceutical Industries has a one year low of $18.83 and a one year high of $42.02. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion for the quarter. On average, analysts predict that Teva Pharmaceutical Industries will post 2.00 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Brian Savage sold 7,342 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $38.85, for a total transaction of $285,236.70. Following the transaction, the insider owned 8,500 shares of the company’s stock, valued at approximately $330,225. This trade represents a 46.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roberto Mignone sold 367,600 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $39.06, for a total transaction of $14,358,456.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 374,959 shares of company stock valued at $14,644,285 in the last ninety days. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its position in Teva Pharmaceutical Industries by 547.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 893 shares of the company’s stock worth $27,000 after acquiring an additional 755 shares during the last quarter. Western Wealth Management LLC purchased a new position in Teva Pharmaceutical Industries in the 1st quarter worth approximately $43,000. Sunbelt Securities Inc. purchased a new position in Teva Pharmaceutical Industries in the 1st quarter worth approximately $45,000. CX Institutional purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its position in Teva Pharmaceutical Industries by 64.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,658 shares of the company’s stock valued at $50,000 after purchasing an additional 647 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company develops, manufactures and distributes generic medicines, specialty pharmaceuticals, active pharmaceutical ingredients and biosimilars.

Teva’s portfolio includes medicines for conditions affecting the central nervous system, respiratory system and other therapeutic areas. Its branded and specialty products include treatments such as Copaxone for multiple sclerosis, Austedo for movement disorders, Ajovy for migraine prevention and Uzedy for schizophrenia.