StockNews.com Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

StockNews.com cut shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a strong-buy rating to a buy rating in a report released on Friday morning.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the company a neutral rating in a research report on Monday, February 5th. Piper Sandler upgraded Teva Pharmaceutical Industries from a neutral rating to an overweight rating and lifted their price target for the company from $12.00 to $19.00 in a research report on Monday, February 12th. Barclays increased their price objective on Teva Pharmaceutical Industries from $17.00 to $20.00 and gave the stock an overweight rating in a report on Thursday. Jefferies Financial Group upgraded shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and boosted their target price for the company from $10.00 to $14.00 in a report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from an underweight rating to a neutral rating and set a $14.00 price target for the company in a research report on Friday, March 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $14.11.

Teva Pharmaceutical Industries Trading Up 1.6 %

NYSE:TEVA opened at $16.25 on Friday. Teva Pharmaceutical Industries has a 12 month low of $7.09 and a 12 month high of $16.57. The company has a current ratio of 1.02, a quick ratio of 0.69 and a debt-to-equity ratio of 2.23. The company has a 50-day moving average price of $13.81 and a 200-day moving average price of $11.86. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of -39.63, a P/E/G ratio of 1.95 and a beta of 1.04.

Insider Activity

In related news, CEO Richard D. Francis sold 74,530 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $13.15, for a total value of $980,069.50. Following the completion of the transaction, the chief executive officer now directly owns 87,125 shares in the company, valued at approximately $1,145,693.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Richard D. Francis sold 74,530 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $13.15, for a total transaction of $980,069.50. Following the sale, the chief executive officer now directly owns 87,125 shares of the company’s stock, valued at $1,145,693.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Sabag sold 100,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.52, for a total value of $1,352,000.00. Following the completion of the transaction, the executive vice president now directly owns 382,590 shares of the company’s stock, valued at approximately $5,172,616.80. The disclosure for this sale can be found here. Insiders have sold a total of 358,972 shares of company stock worth $4,739,820 over the last 90 days. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sound Shore Management Inc CT purchased a new stake in Teva Pharmaceutical Industries during the 3rd quarter valued at $80,791,000. FMR LLC lifted its holdings in Teva Pharmaceutical Industries by 3,553.8% in the third quarter. FMR LLC now owns 2,564,339 shares of the company’s stock valued at $26,156,000 after acquiring an additional 2,494,156 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Teva Pharmaceutical Industries by 7.1% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 32,804,131 shares of the company’s stock valued at $342,788,000 after purchasing an additional 2,188,212 shares during the period. Meitav Investment House Ltd. increased its position in shares of Teva Pharmaceutical Industries by 82.8% during the 4th quarter. Meitav Investment House Ltd. now owns 4,305,674 shares of the company’s stock valued at $44,914,000 after purchasing an additional 1,950,500 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Teva Pharmaceutical Industries by 6.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,919,540 shares of the company’s stock worth $301,920,000 after purchasing an additional 1,860,000 shares during the period. 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.