StockNews.com Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

StockNews.com cut shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a strong-buy rating to a buy rating in a research report report published on Monday.

TEVA has been the subject of a number of other reports. Argus upgraded shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 10th. Barclays raised their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. UBS Group upped their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Finally, Bank of America boosted their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of Moderate Buy and an average price target of $18.89.

Teva Pharmaceutical Industries Stock Up 1.6 %

TEVA opened at $17.74 on Monday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The business has a fifty day simple moving average of $17.75 and a 200 day simple moving average of $16.18. Teva Pharmaceutical Industries has a 1 year low of $8.06 and a 1 year high of $19.08.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Equities analysts anticipate that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds have recently added to or reduced their stakes in TEVA. Lingotto Investment Management LLP lifted its stake in shares of Teva Pharmaceutical Industries by 1.8% in the 4th quarter. Lingotto Investment Management LLP now owns 34,457,656 shares of the company’s stock valued at $359,738,000 after acquiring an additional 607,800 shares during the last quarter. Renaissance Technologies LLC grew its position in Teva Pharmaceutical Industries by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company’s stock worth $141,839,000 after acquiring an additional 1,031,400 shares during the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Teva Pharmaceutical Industries by 68.3% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock worth $61,568,000 after purchasing an additional 1,770,000 shares in the last quarter. Truist Financial Corp raised its position in Teva Pharmaceutical Industries by 7.0% in the second quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock valued at $63,135,000 after purchasing an additional 254,483 shares during the last quarter. Finally, Iron Triangle Partners LP boosted its stake in shares of Teva Pharmaceutical Industries by 113.1% during the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after purchasing an additional 1,469,864 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

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.