Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – Here’s What Happened

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 traded.

Analysts Set New Price Targets

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

Teva Pharmaceutical Industries Price Performance

The business has a 50-day moving average of $17.84 and a 200 day moving average of $17.20. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.89 and a quick ratio of 0.61.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new position in Teva Pharmaceutical Industries during the 1st quarter worth $30,000. UMB Bank n.a. boosted its holdings in Teva Pharmaceutical Industries by 555.6% during the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after acquiring an additional 2,067 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter worth $48,000. Finally, Smithfield Trust Co lifted its position in shares of Teva Pharmaceutical Industries by 55.7% during the third quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock valued at $50,000 after purchasing an additional 980 shares in the last quarter. Institutional investors and hedge funds 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.