Bank of America Issues Pessimistic Forecast for Teva Pharmaceutical Industries (NYSE:TEVA) Stock Price

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target reduced by equities research analysts at Bank of America from $23.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 30.36% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Barclays cut their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. UBS Group cut their target price on 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. Finally, Piper Sandler raised their target price on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $15.34 on Thursday. Teva Pharmaceutical Industries has a one year low of $12.51 and a one year high of $22.80. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The stock has a market cap of $17.40 billion, a PE ratio of -10.58, a P/E/G ratio of 1.44 and a beta of 0.71. The stock has a 50 day moving average price of $18.85 and a 200 day moving average price of $18.38.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted 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 positive return on equity of 42.46% and a negative net margin of 9.91%. Equities research analysts expect that Teva Pharmaceutical Industries will post 2.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Roberto Mignone sold 286,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was 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 directly owns 695,000 shares of the company’s stock, valued at $15,296,950. The trade was a 29.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp grew its stake in Teva Pharmaceutical Industries by 54.0% during the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock worth $1,196,000 after purchasing an additional 23,283 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Teva Pharmaceutical Industries by 7.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock worth $10,983,000 after acquiring an additional 33,277 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Teva Pharmaceutical Industries by 21.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 224,511 shares of the company’s stock worth $4,046,000 after acquiring an additional 40,218 shares in the last quarter. Sio Capital Management LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 3rd quarter worth about $24,314,000. Finally, Pinnbrook Capital Management LP acquired a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $4,966,000. 54.05% of the stock is owned by institutional investors and hedge funds.

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.