Teva Pharmaceutical Industries Limited (NYSE:TEVA) Sees Significant Increase in Short Interest

Teva Pharmaceutical Industries Limited (NYSE:TEVA) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 34,800,000 shares, a growth of 25.1% from the February 28th total of 27,810,000 shares. Based on an average daily trading volume, of 12,260,000 shares, the short-interest ratio is presently 2.8 days. Approximately 3.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently added to or reduced their stakes in TEVA. Diversify Advisory Services LLC increased its holdings in shares of Teva Pharmaceutical Industries by 2.5% in the 4th quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock worth $426,000 after purchasing an additional 496 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Teva Pharmaceutical Industries by 1.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company’s stock worth $601,000 after buying an additional 664 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Teva Pharmaceutical Industries by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company’s stock worth $4,964,000 after acquiring an additional 699 shares during the period. Townsquare Capital LLC increased its position in Teva Pharmaceutical Industries by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 40,162 shares of the company’s stock valued at $885,000 after acquiring an additional 812 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Teva Pharmaceutical Industries by 6.7% in the fourth quarter. Metis Global Partners LLC now owns 13,697 shares of the company’s stock valued at $302,000 after acquiring an additional 860 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Stock Down 0.6 %

Shares of NYSE:TEVA traded down $0.09 on Tuesday, hitting $15.28. 8,287,196 shares of the company traded hands, compared to its average volume of 9,683,731. The stock has a 50 day simple moving average of $17.08 and a 200-day simple moving average of $18.11. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. The company has a market cap of $17.33 billion, a PE ratio of -10.54, a PEG ratio of 1.44 and a beta of 0.82. Teva Pharmaceutical Industries has a 52 week low of $12.51 and a 52 week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. As a group, research analysts expect that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TEVA shares. Piper Sandler upped their target price on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. StockNews.com cut Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Bank of America lowered their price objective on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group decreased their price target 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.43.

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.