Teva Pharmaceutical Industries (NYSE:TEVA) Raised to “Overweight” at JPMorgan Chase & Co.

Teva Pharmaceutical Industries (NYSE:TEVA) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday,Benzinga reports. The brokerage presently has a $23.00 price objective on the stock, up from their previous price objective of $21.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 35.77% from the company’s previous close.

Several other equities analysts also recently weighed in on TEVA. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. UBS Group reduced their target price on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Hsbc Global Res upgraded shares of Teva Pharmaceutical Industries to a “strong-buy” rating in a research report on Monday, April 28th. Barclays cut their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Piper Sandler raised their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.43.

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA opened at $16.94 on Monday. Teva Pharmaceutical Industries has a 52-week low of $12.47 and a 52-week high of $22.80. The company has a 50-day simple moving average of $15.18 and a 200 day simple moving average of $17.44. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The company has a market capitalization of $19.21 billion, a PE ratio of -11.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. On average, research analysts predict that Teva Pharmaceutical Industries will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. Robeco Institutional Asset Management B.V. increased its position in Teva Pharmaceutical Industries by 7.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock valued at $10,983,000 after purchasing an additional 33,277 shares during the period. Pinnbrook Capital Management LP purchased a new position in Teva Pharmaceutical Industries during the 4th quarter valued at $4,966,000. Asset Management One Co. Ltd. increased its position in Teva Pharmaceutical Industries by 14.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company’s stock valued at $10,414,000 after purchasing an additional 58,413 shares during the period. Allspring Global Investments Holdings LLC increased its position in Teva Pharmaceutical Industries by 2,018.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,097,096 shares of the company’s stock valued at $23,368,000 after purchasing an additional 1,045,305 shares during the period. Finally, Capital Wealth Planning LLC increased its position in Teva Pharmaceutical Industries by 8.8% during the 4th quarter. Capital Wealth Planning LLC now owns 246,601 shares of the company’s stock valued at $5,435,000 after purchasing an additional 20,016 shares during the period. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.