Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 12-Month High – Time to Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) hit a new 52-week high on Monday . The stock traded as high as $39.72 and last traded at $39.8650, with a volume of 996783 shares trading hands. The stock had previously closed at $38.98.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TEVA shares. Weiss Ratings cut shares of Teva Pharmaceutical Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 8th. Wall Street Zen cut shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Leerink Partners initiated coverage on Teva Pharmaceutical Industries in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price objective on the stock. UBS Group increased their price objective on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the company a “buy” rating in a report on Friday, September 4th. Finally, Piper Sandler raised their target price on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Teva Pharmaceutical Industries Trading Up 3.2%

The firm has a 50 day simple moving average of $35.42 and a 200 day simple moving average of $33.55. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a market cap of $46.87 billion, a P/E ratio of 67.11, a P/E/G ratio of 4.86 and a beta of 0.87.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced 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 firm had revenue of $4.14 billion for the quarter. On average, equities research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Teva Pharmaceutical Industries by 2.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company’s stock worth $1,384,216,000 after purchasing an additional 1,004,941 shares during the last quarter. WCM Investment Management LLC increased its stake in Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock valued at $1,157,264,000 after acquiring an additional 26,813,522 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in Teva Pharmaceutical Industries by 18.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company’s stock valued at $1,171,378,000 after purchasing an additional 5,917,423 shares in the last quarter. Norges Bank purchased a new stake in Teva Pharmaceutical Industries during the fourth quarter valued at about $1,098,060,000. Finally, Geode Capital Management LLC lifted its stake in Teva Pharmaceutical Industries by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 10,326,504 shares of the company’s stock worth $320,295,000 after purchasing an additional 336,629 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. The company develops, manufactures and markets generic medicines, innovative specialty medicines, biosimilars, over-the-counter products and active pharmaceutical ingredients. Its portfolio serves a broad range of therapeutic areas, including central nervous system disorders, respiratory conditions, migraine, oncology and movement disorders.

Teva’s specialty medicines include treatments for conditions such as multiple sclerosis, migraine and tardive dyskinesia, while its generic medicines business supplies products across numerous therapeutic categories and dosage forms.