Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 12-Month High – What’s Next?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.83 and last traded at $37.82, with a volume of 1042924 shares changing hands. The stock had previously closed at $36.93.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TEVA. Weiss Ratings raised shares of Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. UBS Group boosted their price objective on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Truist Financial boosted their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Piper Sandler raised their price target on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and an average target price of $42.22.

Teva Pharmaceutical Industries Price Performance

The firm has a market cap of $43.75 billion, a P/E ratio of 62.58, a P/E/G ratio of 3.99 and a beta of 0.86. The company has a fifty day moving average of $33.88 and a 200-day moving average of $33.11. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion for the quarter. On average, sell-side analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $34.10, for a total value of $3,633,798.30. Following the completion of the sale, the executive vice president owned 65,621 shares in the company, valued at approximately $2,237,676.10. This trade represents a 61.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC grew its position in Teva Pharmaceutical Industries by 547.1% during the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company’s stock valued at $27,000 after buying an additional 755 shares during the period. Allworth Financial LP increased its holdings in Teva Pharmaceutical Industries by 53.8% during the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock worth $29,000 after buying an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Teva Pharmaceutical Industries by 51.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $42,000 after acquiring an additional 292 shares during the period. 54.05% of the stock is currently owned by institutional investors.

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.