Teva Pharmaceutical Industries (NYSE:TEVA) Cut to “Buy” at Wall Street Zen

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Other research analysts have also issued reports about the company. Scotiabank assumed coverage on Teva Pharmaceutical Industries in a research report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price objective for the company. Jefferies Financial Group boosted their price objective on Teva Pharmaceutical Industries from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Bank of America upped their target price on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, The Goldman Sachs Group upped their target price on shares of Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Buy” and an average price target of $33.67.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock opened at $31.78 on Friday. Teva Pharmaceutical Industries has a 1-year low of $12.47 and a 1-year high of $33.42. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The firm’s 50-day moving average price is $29.00 and its two-hundred day moving average price is $22.11. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 52.97, a P/E/G ratio of 1.82 and a beta of 0.66.

Insider Buying and Selling

In related news, VP Richard Daniell sold 115,468 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $28.68, for a total transaction of $3,311,622.24. Following the completion of the sale, the vice president directly owned 48,384 shares in the company, valued at approximately $1,387,653.12. This trade represents a 70.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Sabag sold 216,892 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total value of $6,231,307.16. Following the completion of the sale, the insider directly owned 52,828 shares in the company, valued at $1,517,748.44. This trade represents a 80.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 622,060 shares of company stock worth $17,076,965 in the last quarter. Company insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Phoenix Financial Ltd. raised its stake in Teva Pharmaceutical Industries by 9.4% during the third quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company’s stock worth $834,164,000 after buying an additional 3,533,800 shares during the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in shares of Teva Pharmaceutical Industries by 1.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock worth $786,190,000 after purchasing an additional 427,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Teva Pharmaceutical Industries by 12.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,696,690 shares of the company’s stock valued at $761,455,000 after acquiring an additional 4,306,363 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Teva Pharmaceutical Industries by 13.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,582,212 shares of the company’s stock worth $658,161,000 after purchasing an additional 3,896,790 shares in the last quarter. Finally, Lingotto Investment Management LLP lifted its position in Teva Pharmaceutical Industries by 1.1% in the second quarter. Lingotto Investment Management LLP now owns 28,156,918 shares of the company’s stock valued at $471,910,000 after buying an additional 302,975 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.