Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $40.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective lifted by analysts at Piper Sandler from $30.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 31.62% from the stock’s current price.

A number of other research firms have also recently issued reports on TEVA. Scotiabank began coverage on Teva Pharmaceutical Industries in a report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 target price for the company. UBS Group upped their price objective on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. The Goldman Sachs Group lifted their target price on Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of “Buy” and an average target price of $32.88.

Teva Pharmaceutical Industries Stock Up 0.2%

Teva Pharmaceutical Industries stock opened at $30.39 on Monday. The company has a 50 day moving average of $24.44 and a 200-day moving average of $20.08. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. Teva Pharmaceutical Industries has a twelve month low of $12.47 and a twelve month high of $30.56. The stock has a market capitalization of $34.86 billion, a PE ratio of 50.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67.

Insider Activity at Teva Pharmaceutical Industries

In related news, VP Richard Daniell sold 115,468 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total value of $3,311,622.24. Following the completion of the sale, the vice president directly owned 48,384 shares in the company, valued at approximately $1,387,653.12. The trade was a 70.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Sabag sold 216,892 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total value of $6,231,307.16. Following the sale, the insider directly owned 52,828 shares in the company, valued at $1,517,748.44. This represents a 80.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 622,060 shares of company stock valued at $17,076,965 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in shares of Teva Pharmaceutical Industries in the second quarter worth about $41,000. Cromwell Holdings LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 40.3% in the 3rd quarter. Cromwell Holdings LLC now owns 2,191 shares of the company’s stock valued at $44,000 after acquiring an additional 629 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Teva Pharmaceutical Industries by 3,715.8% in the second quarter. Sound Income Strategies LLC now owns 2,900 shares of the company’s stock worth $49,000 after acquiring an additional 2,824 shares during the period. MAI Capital Management raised its holdings in shares of Teva Pharmaceutical Industries by 26.8% during the second quarter. MAI Capital Management now owns 3,293 shares of the company’s stock worth $55,000 after purchasing an additional 697 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings in Teva Pharmaceutical Industries by 97.0% in the third quarter. Rothschild Investment LLC now owns 2,738 shares of the company’s stock valued at $55,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

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.