Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 1-Year High – Still a Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.91 and last traded at $32.43, with a volume of 4682391 shares trading hands. The stock had previously closed at $31.00.

Analysts Set New Price Targets

TEVA has been the topic of a number of recent analyst reports. Wall Street Zen lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Piper Sandler upped their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. The Goldman Sachs Group increased their price objective on shares of Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Barclays initiated coverage on shares of Teva Pharmaceutical Industries in a research note on Tuesday, December 9th. They set an “overweight” rating and a $35.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Teva Pharmaceutical Industries presently has a consensus rating of “Buy” and a consensus target price of $32.88.

Teva Pharmaceutical Industries Stock Up 3.8%

The stock has a fifty day moving average price of $27.07 and a two-hundred day moving average price of $21.17. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 53.69, a P/E/G ratio of 1.79 and a beta of 0.66. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, VP Richard Daniell sold 115,468 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were 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 owned 48,384 shares of the company’s stock, valued at $1,387,653.12. The trade was a 70.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roberto Mignone sold 77,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $30.24, for a total transaction of $2,340,576.00. Following the transaction, the director directly owned 367,600 shares in the company, valued at $11,116,224. This represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 622,060 shares of company stock worth $17,076,965 over the last quarter. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC raised its stake in shares of Teva Pharmaceutical Industries by 100.7% during the second quarter. Bourgeon Capital Management LLC now owns 723,974 shares of the company’s stock valued at $12,134,000 after acquiring an additional 363,252 shares during the last quarter. Amundi increased its holdings in Teva Pharmaceutical Industries by 18.5% in the first quarter. Amundi now owns 678,758 shares of the company’s stock valued at $10,080,000 after purchasing an additional 105,846 shares during the period. IFM Investors Pty Ltd increased its holdings in Teva Pharmaceutical Industries by 9.4% in the second quarter. IFM Investors Pty Ltd now owns 226,534 shares of the company’s stock valued at $3,797,000 after purchasing an additional 19,447 shares during the period. Vontobel Holding Ltd. raised its position in Teva Pharmaceutical Industries by 5.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 719,676 shares of the company’s stock worth $12,062,000 after purchasing an additional 37,455 shares during the last quarter. Finally, Oak Harvest Investment Services acquired a new position in Teva Pharmaceutical Industries during the 3rd quarter worth about $1,010,000. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Company Profile

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.