Teva Pharmaceutical Industries (NYSE:TEVA) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $27.00 price objective on the stock, up from their prior price objective of $20.00. Morgan Stanley’s target price would suggest a potential upside of 16.93% from the company’s current price.
Several other equities analysts have also recently weighed in on TEVA. Mizuho increased their price target on Teva Pharmaceutical Industries from $28.00 to $29.00 and gave the company a “buy” rating in a report on Monday, September 17th. Wells Fargo & Co set a $23.00 price target on Teva Pharmaceutical Industries and gave the company a “hold” rating in a report on Monday, September 17th. Jefferies Financial Group reissued a “hold” rating and set a $21.00 price target on shares of Teva Pharmaceutical Industries in a report on Friday, August 3rd. Bank of America increased their price target on Teva Pharmaceutical Industries from $19.00 to $20.00 and gave the company an “underperform” rating in a report on Friday, November 2nd. Finally, Cantor Fitzgerald set a $25.00 price target on Teva Pharmaceutical Industries and gave the company a “hold” rating in a report on Friday, September 14th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.58.
TEVA stock opened at $23.09 on Monday. The company has a market capitalization of $22.97 billion, a P/E ratio of 5.88, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. Teva Pharmaceutical Industries has a 12-month low of $11.41 and a 12-month high of $25.96. The company has a current ratio of 0.94, a quick ratio of 0.61 and a debt-to-equity ratio of 1.75.
Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.11. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Teva Pharmaceutical Industries had a positive return on equity of 21.83% and a negative net margin of 54.67%. The firm’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts forecast that Teva Pharmaceutical Industries will post 2.72 EPS for the current year.
In related news, insider Deborah A. Griffin sold 2,376 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $23.71, for a total value of $56,334.96. Following the transaction, the insider now directly owns 2,376 shares of the company’s stock, valued at approximately $56,334.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Iris Beck Codner sold 4,165 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $22.70, for a total value of $94,545.50. Following the completion of the transaction, the executive vice president now directly owns 8,290 shares in the company, valued at $188,183. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,350 shares of company stock worth $239,430. 0.43% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in Teva Pharmaceutical Industries by 315,000.0% in the 3rd quarter. CWM LLC now owns 6,302 shares of the company’s stock worth $136,000 after buying an additional 6,300 shares in the last quarter. Wealthstreet Investment Advisors LLC purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $200,000. MAI Capital Management purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $204,000. Greenleaf Trust purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $215,000. Finally, Rehmann Capital Advisory Group grew its position in shares of Teva Pharmaceutical Industries by 136.2% during the second quarter. Rehmann Capital Advisory Group now owns 9,019 shares of the company’s stock valued at $219,000 after purchasing an additional 5,201 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.
Teva Pharmaceutical Industries Company Profile
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.
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