Teva Pharmaceutical Industries (NYSE:TEVA) Downgraded to “Hold” Rating by StockNews.com

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

A number of other brokerages have also recently issued reports on TEVA. Barclays cut their price objective on shares of 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. UBS Group decreased their target price on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Bank of America cut their price target on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.43.

Teva Pharmaceutical Industries Trading Down 0.2 %

Shares of TEVA opened at $15.68 on Thursday. The business’s 50-day moving average price is $17.47 and its 200-day moving average price is $18.16. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries has a twelve month low of $12.51 and a twelve month high of $22.80. The stock has a market cap of $17.77 billion, a PE ratio of -10.81, a P/E/G ratio of 1.44 and a beta of 0.82.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Teva Pharmaceutical Industries will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Teva Pharmaceutical Industries by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 185,912 shares of the company’s stock valued at $4,098,000 after buying an additional 3,816 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Teva Pharmaceutical Industries by 97.2% in the fourth quarter. Centaurus Financial Inc. now owns 35,279 shares of the company’s stock valued at $778,000 after purchasing an additional 17,388 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in Teva Pharmaceutical Industries during the fourth quarter valued at $611,000. Jefferies Financial Group Inc. purchased a new stake in Teva Pharmaceutical Industries during the fourth quarter valued at $332,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter worth $596,000. 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.