Teva Pharmaceutical Industries (NYSE:TEVA) Stock Rating Cut to Strong Sell at Zacks Research

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities research analysts also recently issued reports on the company. Piper Sandler raised their price target on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Leerink Partners started coverage on Teva Pharmaceutical Industries in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price objective for the company. UBS Group boosted their price objective on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. Finally, Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.92.

Teva Pharmaceutical Industries Stock Down 0.7%

TEVA opened at $40.55 on Tuesday. The firm has a market cap of $47.25 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.89. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The business has a 50 day moving average price of $38.55 and a 200 day moving average price of $35.17. Teva Pharmaceutical Industries has a twelve month low of $18.83 and a twelve month high of $42.02.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. The company had revenue of $4.14 billion for the quarter. Research analysts forecast that Teva Pharmaceutical Industries will post 2.00 EPS for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In related news, insider Brian Savage sold 7,342 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $38.85, for a total value of $285,236.70. Following the completion of the sale, the insider owned 8,500 shares in the company, valued at approximately $330,225. This trade represents a 46.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roberto Mignone sold 367,600 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $39.06, for a total value of $14,358,456.00. The SEC filing for this sale provides additional information. Insiders have sold 374,959 shares of company stock valued at $14,644,285 in the last ninety days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Large investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its position in shares of Teva Pharmaceutical Industries by 191.4% in the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock worth $1,157,264,000 after acquiring an additional 26,813,522 shares during the period. SEB Asset Management AB bought a new stake in shares of Teva Pharmaceutical Industries during the first quarter valued at approximately $59,551,000. Assenagon Asset Management S.A. raised its stake in shares of Teva Pharmaceutical Industries by 128.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,056,017 shares of the company’s stock valued at $103,538,000 after purchasing an additional 1,716,315 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Teva Pharmaceutical Industries by 2.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company’s stock valued at $1,384,216,000 after purchasing an additional 1,004,941 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in shares of Teva Pharmaceutical Industries in the second quarter valued at $33,799,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company is one of the world’s largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva’s portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.