Bank of America Forecasts Strong Price Appreciation for Teva Pharmaceutical Industries (NYSE:TEVA) Stock

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target boosted by research analysts at Bank of America from $29.00 to $32.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 7.62% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group boosted their price target on Teva Pharmaceutical Industries from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Scotiabank began coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $29.74 on Tuesday. Teva Pharmaceutical Industries has a one year low of $12.47 and a one year high of $29.80. The company has a 50-day simple moving average of $23.03 and a 200-day simple moving average of $19.44. 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 stock has a market capitalization of $34.10 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.53 and a beta of 0.67.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 200,000 shares of Teva Pharmaceutical Industries stock in a transaction on 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 of the company’s stock, valued at $11,934,450. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Teva Pharmaceutical Industries

A number of institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of 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 acquiring an additional 1,325 shares in the last quarter. LPL Financial LLC increased its stake in 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 raised its holdings in shares of Teva Pharmaceutical Industries by 6.5% during 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 during the period. PNC Financial Services Group Inc. boosted its position 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 worth $917,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of 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. Institutional investors own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

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.