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

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other research firms also recently weighed in on TEVA. Barclays lifted their target price on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, UBS Group boosted their price target on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Teva Pharmaceutical Industries Trading Down 1.2 %

Teva Pharmaceutical Industries stock opened at $17.46 on Thursday. The business has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $16.31. Teva Pharmaceutical Industries has a 52-week low of $8.06 and a 52-week high of $19.08. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 2.52. The company has a market cap of $19.78 billion, a P/E ratio of -42.59, a P/E/G ratio of 1.21 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Wednesday, July 31st. The company reported $0.58 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 business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Analysts predict that Teva Pharmaceutical Industries will post 2.33 EPS for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total transaction of $423,263.25. Following the transaction, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEVA. New Covenant Trust Company N.A. purchased a new position in Teva Pharmaceutical Industries during the 1st quarter worth $28,000. EntryPoint Capital LLC purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at $30,000. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries in the second quarter valued at about $48,000. Byrne Asset Management LLC purchased a new stake in Teva Pharmaceutical Industries in the second quarter worth about $52,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in Teva Pharmaceutical Industries during the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.

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.