Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 1-Year High – Should You Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)’s share price hit a new 52-week high on Wednesday . The company traded as high as $37.79 and last traded at $37.7670, with a volume of 1340480 shares trading hands. The stock had previously closed at $36.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEVA. Weiss Ratings upgraded shares of Teva Pharmaceutical Industries from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Piper Sandler increased their target price on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Barclays lifted their price target on Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, UBS Group raised their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of “Moderate Buy” and an average price target of $42.22.

Teva Pharmaceutical Industries Price Performance

The company has a fifty day simple moving average of $33.64 and a 200 day simple moving average of $33.05. The stock has a market capitalization of $43.30 billion, a price-to-earnings ratio of 61.96, a P/E/G ratio of 3.93 and a beta of 0.86. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%.The company had revenue of $4.14 billion during the quarter. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the sale, the executive vice president owned 65,621 shares of the company’s stock, valued at approximately $2,237,676.10. This represents a 61.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC boosted its stake in shares of Teva Pharmaceutical Industries by 27.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock valued at $42,000 after purchasing an additional 292 shares in the last quarter. Captrust Financial Advisors raised its position in Teva Pharmaceutical Industries by 2.1% in the 4th quarter. Captrust Financial Advisors now owns 14,715 shares of the company’s stock worth $459,000 after purchasing an additional 302 shares during the period. Banque Cantonale Vaudoise lifted its stake in Teva Pharmaceutical Industries by 6.3% in the fourth quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company’s stock worth $160,000 after purchasing an additional 306 shares during the last quarter. Ethic Inc. lifted its stake in Teva Pharmaceutical Industries by 1.8% in the fourth quarter. Ethic Inc. now owns 18,127 shares of the company’s stock worth $566,000 after purchasing an additional 325 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Teva Pharmaceutical Industries by 53.8% during the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock valued at $29,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.