Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up Following Analyst Upgrade

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares gapped up prior to trading on Tuesday after Barclays upgraded the stock to a strong-buy rating. The stock had previously closed at $28.33, but opened at $29.07. Teva Pharmaceutical Industries shares last traded at $28.7010, with a volume of 3,284,901 shares.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Bank of America raised their price target on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Scotiabank initiated coverage on shares of Teva Pharmaceutical Industries in a report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Teva Pharmaceutical Industries from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Three equities research 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 stock. According to MarketBeat, Teva Pharmaceutical Industries currently has an average rating of “Buy” and an average price target of $30.25.

Insider Activity at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 200,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $24.11, for a total value of $4,822,000.00. Following the completion of the transaction, the director owned 495,000 shares in the company, valued at approximately $11,934,450. This trade represents a 28.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several large investors have recently added to or reduced their stakes in TEVA. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Teva Pharmaceutical Industries by 51.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,390,327 shares of the company’s stock worth $559,622,000 after purchasing an additional 11,334,780 shares during the period. Menora Mivtachim Holdings LTD. lifted its position in shares of Teva Pharmaceutical Industries by 31.9% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 38,493,294 shares of the company’s stock worth $645,148,000 after buying an additional 9,303,978 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Teva Pharmaceutical Industries by 31.7% in the 2nd quarter. Phoenix Financial Ltd. now owns 37,761,444 shares of the company’s stock valued at $632,882,000 after buying an additional 9,094,372 shares during the period. Soundwatch Capital LLC acquired a new position in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at about $143,533,000. Finally, Wellington Management Group LLP grew its position in shares of Teva Pharmaceutical Industries by 39,228.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after buying an additional 6,878,304 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Trading Up 4.1%

The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. The firm’s 50 day moving average is $23.03 and its two-hundred day moving average is $19.44. The stock has a market cap of $34.10 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 1.53 and a beta of 0.67.

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.