Teva Pharmaceutical Industries (NYSE:TEVA) Trading Down 4.6% on Analyst Downgrade

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Free Report) fell 4.6% during trading on Thursday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as low as $17.62 and last traded at $17.69. 18,918,568 shares were traded during mid-day trading, an increase of 58% from the average session volume of 11,937,447 shares. The stock had previously closed at $18.54.

A number of other brokerages have also commented on TEVA. StockNews.com lowered shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Barclays cut their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler boosted their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Read Our Latest Report on Teva Pharmaceutical Industries

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, EVP Christine Fox sold 19,388 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total value of $327,075.56. Following the transaction, the executive vice president now directly owns 44,104 shares in the company, valued at $744,034.48. The trade was a 30.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the completion of the transaction, the director now owns 695,000 shares in the company, valued at approximately $15,296,950. This represents a 29.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently modified their holdings of TEVA. UMB Bank n.a. grew its stake in shares of Teva Pharmaceutical Industries by 555.6% in the third quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock valued at $44,000 after acquiring an additional 2,067 shares in the last quarter. Smithfield Trust Co grew its stake in shares of Teva Pharmaceutical Industries by 55.7% in the third quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock valued at $50,000 after acquiring an additional 980 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Teva Pharmaceutical Industries in the third quarter valued at about $50,000. Claro Advisors LLC acquired a new position in shares of Teva Pharmaceutical Industries in the third quarter valued at about $52,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Teva Pharmaceutical Industries in the third quarter valued at about $60,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Price Performance

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 company’s 50 day moving average is $19.97 and its 200 day moving average is $18.48. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of -21.03, a P/E/G ratio of 1.11 and a beta of 0.73.

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 42.92%. On average, equities research analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.37 earnings per share for the current fiscal year.

Teva Pharmaceutical Industries Company Profile

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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.

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