Teva Pharmaceutical Industries (NYSE:TEVA) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on TEVA. The Goldman Sachs Group initiated coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a “buy” rating and a $24.00 price objective on the stock. UBS Group reduced their price objective on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Bank of America raised their price objective on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Truist Financial initiated coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $23.00 in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of “Buy” and a consensus target price of $24.71.

Teva Pharmaceutical Industries Stock Performance

TEVA opened at $16.53 on Friday. The firm has a market cap of $18.96 billion, a P/E ratio of -14.38, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Teva Pharmaceutical Industries has a 52-week low of $12.47 and a 52-week high of $22.80. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 1.03. The business’s fifty day moving average is $16.93 and its 200-day moving average is $16.77.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. Teva Pharmaceutical Industries’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. Sell-side analysts expect that Teva Pharmaceutical Industries will post 2.5 EPS for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the sale, the executive vice president directly owned 9,989 shares of the company’s stock, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Teva Pharmaceutical Industries by 30.7% during the fourth quarter. FMR LLC now owns 81,983,231 shares of the company’s stock worth $1,806,910,000 after acquiring an additional 19,242,468 shares during the last quarter. Ion Asset Management Ltd. raised its position in shares of Teva Pharmaceutical Industries by 6.5% during the first quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company’s stock worth $599,945,000 after acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its position in shares of Teva Pharmaceutical Industries by 2.8% during the first quarter. Menora Mivtachim Holdings LTD. now owns 29,189,316 shares of the company’s stock worth $448,640,000 after acquiring an additional 808,074 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Teva Pharmaceutical Industries by 1.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company’s stock worth $404,775,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Teva Pharmaceutical Industries by 197,885.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company’s stock worth $338,989,000 after acquiring an additional 22,044,407 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

About Teva Pharmaceutical Industries

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.