Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 52-Week High Following Analyst Upgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares reached a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock from $24.00 to $26.00. UBS Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as high as $19.03 and last traded at $18.92, with a volume of 1113636 shares. The stock had previously closed at $18.52.

A number of other analysts have also recently commented on the company. Bank of America lifted their target price on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 3rd. Jefferies Financial Group lifted their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $20.00 price target (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.89.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares of the company’s stock, valued at approximately $777,285. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares of the company’s stock, valued at approximately $777,285. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total value of $8,838,570.00. Following the sale, the director now directly owns 981,000 shares in the company, valued at approximately $16,706,430. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently modified their holdings of TEVA. Maple Rock Capital Partners Inc. boosted its stake in shares of Teva Pharmaceutical Industries by 68.3% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock worth $61,568,000 after acquiring an additional 1,770,000 shares in the last quarter. Glenview Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at approximately $16,752,000. Iron Triangle Partners LP lifted its stake in Teva Pharmaceutical Industries by 113.1% in the 1st quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after buying an additional 1,469,864 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries in the 2nd quarter valued at approximately $23,115,000. Finally, Norges Bank purchased a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at approximately $14,376,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Trading Up 2.4 %

The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. The business has a 50 day moving average of $17.28 and a 200-day moving average of $15.67. The stock has a market cap of $21.49 billion, a PE ratio of -46.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $3.99 billion. On average, analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.35 EPS for the current year.

Teva Pharmaceutical Industries Company Profile

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.