UBS Group Lowers Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $23.00

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) had its price target decreased by investment analysts at UBS Group from $24.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 37.27% from the company’s previous close.

A number of other analysts have also weighed in on TEVA. Bank of America upped their price objective on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a “buy” rating and a $24.00 price target for the company. Truist Financial assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They set a “buy” rating and a $25.00 price target for the company. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a “strong-buy” rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Buy” and an average price target of $24.13.

Read Our Latest Stock Analysis on TEVA

Teva Pharmaceutical Industries Stock Up 1.2%

NYSE:TEVA opened at $16.76 on Thursday. Teva Pharmaceutical Industries has a 1-year low of $12.47 and a 1-year high of $22.80. The company has a 50-day moving average of $16.66 and a 200 day moving average of $17.40. The firm has a market cap of $19.22 billion, a PE ratio of -14.57, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 0.74.

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Teva Pharmaceutical Industries will post 2.5 EPS for the current fiscal year.

Insider Activity

In other news, EVP Matthew Shields sold 6,206 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total transaction of $105,626.12. Following the transaction, the executive vice president now owns 9,989 shares in the company, valued at $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Hedge funds have recently modified their holdings of the stock. Oarsman Capital Inc. acquired a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at about $29,000. Golden State Wealth Management LLC acquired a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at about $39,000. New Age Alpha Advisors LLC acquired a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Teva Pharmaceutical Industries in the 4th quarter worth approximately $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Teva Pharmaceutical Industries in the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

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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.

Further Reading

Analyst Recommendations for Teva Pharmaceutical Industries (NYSE:TEVA)

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