Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – Should You Sell?

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) gapped down prior to trading on Friday . The stock had previously closed at $16.75, but opened at $16.22. Teva Pharmaceutical Industries shares last traded at $16.56, with a volume of 634,057 shares trading hands.

Wall Street Analyst Weigh In

TEVA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Teva Pharmaceutical Industries Stock Performance

The firm has a fifty day moving average of $17.78 and a 200-day moving average of $17.22. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of -19.33, a PEG ratio of 1.32 and a beta of 0.87.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in Teva Pharmaceutical Industries by 49.5% during the third quarter. FMR LLC now owns 62,740,763 shares of the company’s stock worth $1,130,589,000 after buying an additional 20,762,226 shares in the last quarter. Janus Henderson Group PLC increased its position in Teva Pharmaceutical Industries by 7,945.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,791,937 shares of the company’s stock worth $86,350,000 after purchasing an additional 4,732,374 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Teva Pharmaceutical Industries by 237.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,377,517 shares of the company’s stock worth $60,863,000 after purchasing an additional 2,376,668 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Teva Pharmaceutical Industries by 6.8% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock valued at $621,337,000 after purchasing an additional 2,204,623 shares during the last quarter. Finally, State Street Corp lifted its holdings in Teva Pharmaceutical Industries by 10.0% in the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company’s stock valued at $351,402,000 after purchasing an additional 1,778,268 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

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.