Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 52-Week High on Analyst Upgrade

Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) hit a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $29.00 to $32.00. Bank of America currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as high as $28.74 and last traded at $28.1090, with a volume of 733080 shares traded. The stock had previously closed at $28.46.

Several other research firms have also issued reports on TEVA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. UBS Group upped their price objective on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Barclays assumed coverage on Teva Pharmaceutical Industries in a research note on Tuesday. They set an “overweight” rating and a $35.00 target price on the stock. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Scotiabank started coverage on shares of Teva Pharmaceutical Industries in a report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 200,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $24.11, for a total transaction of $4,822,000.00. Following the completion of the transaction, the director owned 495,000 shares in the company, valued at $11,934,450. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of Teva Pharmaceutical Industries

A number of institutional investors have recently modified their holdings of TEVA. Cetera Investment Advisers grew its stake in Teva Pharmaceutical Industries by 2.5% in the 1st quarter. Cetera Investment Advisers now owns 54,430 shares of the company’s stock valued at $837,000 after buying an additional 1,325 shares in the last quarter. LPL Financial LLC grew its position in shares of Teva Pharmaceutical Industries by 5.5% in the first quarter. LPL Financial LLC now owns 213,280 shares of the company’s stock valued at $3,278,000 after purchasing an additional 11,029 shares in the last quarter. US Bancorp DE grew its position in shares of Teva Pharmaceutical Industries by 6.5% in the first quarter. US Bancorp DE now owns 10,812 shares of the company’s stock valued at $166,000 after purchasing an additional 656 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Teva Pharmaceutical Industries by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 59,647 shares of the company’s stock valued at $917,000 after purchasing an additional 1,578 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Teva Pharmaceutical Industries by 67.2% during the 1st quarter. Blair William & Co. IL now owns 18,782 shares of the company’s stock worth $289,000 after purchasing an additional 7,550 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Trading Up 0.8%

The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.82 and a current ratio of 1.11. The firm has a market cap of $32.75 billion, a P/E ratio of 47.59, a P/E/G ratio of 1.52 and a beta of 0.67. The firm has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $19.37.

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.