Teva Pharmaceutical Industries Ltd (NYSE:TEVA)‘s stock had its “outperform” rating restated by equities researchers at Sanford C. Bernstein in a research report issued on Friday. They presently have a $42.00 price objective on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 18.71% from the company’s previous close.
TEVA has been the subject of several other reports. Maxim Group cut shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating and dropped their target price for the stock from $49.00 to $41.00 in a research report on Friday, January 6th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, December 7th. RBC Capital Markets set a $42.00 target price on shares of Teva Pharmaceutical Industries and gave the stock a “buy” rating in a research report on Monday, January 9th. Credit Suisse Group raised shares of Teva Pharmaceutical Industries from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $59.00 to $52.00 in a research report on Monday, October 31st. They noted that the move was a valuation call. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 target price on shares of Teva Pharmaceutical Industries in a research report on Friday, December 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.81.
Teva Pharmaceutical Industries (NYSE:TEVA) traded down 1.23% on Friday, reaching $35.38. 6,115,394 shares of the company traded hands. The company has a market capitalization of $35.91 billion, a PE ratio of 505.43 and a beta of 0.58. Teva Pharmaceutical Industries has a one year low of $31.90 and a one year high of $59.35. The stock’s 50 day moving average price is $34.26 and its 200 day moving average price is $41.64.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Thursday, March 2nd will be paid a $0.34 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.84%. Teva Pharmaceutical Industries’s dividend payout ratio is presently 1,657.38%.
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Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of Teva Pharmaceutical Industries by 20.9% in the fourth quarter. Franklin Resources Inc. now owns 56,635,303 shares of the company’s stock worth $2,052,926,000 after buying an additional 9,775,505 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Teva Pharmaceutical Industries by 22.1% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 32,455,432 shares of the company’s stock worth $1,176,510,000 after buying an additional 5,884,444 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Teva Pharmaceutical Industries by 20.9% in the third quarter. Capital Research Global Investors now owns 20,875,749 shares of the company’s stock worth $960,493,000 after buying an additional 3,609,949 shares in the last quarter. Highfields Capital Management LP raised its stake in shares of Teva Pharmaceutical Industries by 106.2% in the fourth quarter. Highfields Capital Management LP now owns 16,867,447 shares of the company’s stock worth $611,445,000 after buying an additional 8,686,905 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Teva Pharmaceutical Industries by 8.4% in the third quarter. Bank of New York Mellon Corp now owns 16,124,966 shares of the company’s stock worth $741,908,000 after buying an additional 1,256,324 shares in the last quarter. Hedge funds and other institutional investors own 55.03% of the company’s stock.
About Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Limited is a global pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. It has a global portfolio of approximately 1,000 molecules.
