Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up to $7.12

Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $7.12, but opened at $8.63. Teva Pharmaceutical Industries shares last traded at $8.58, with a volume of 558,061 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TEVA shares. UBS Group started coverage on Teva Pharmaceutical Industries in a research note on Monday, June 13th. They issued a “neutral” rating and a $10.00 price objective on the stock. Bank of America upgraded Teva Pharmaceutical Industries from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Tuesday, May 17th. Barclays upgraded Teva Pharmaceutical Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, April 5th. Piper Sandler cut Teva Pharmaceutical Industries from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $11.00 to $7.00 in a research note on Wednesday, May 4th. Finally, StockNews.com upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.71.

Teva Pharmaceutical Industries Stock Performance

The firm has a fifty day simple moving average of $8.02 and a 200-day simple moving average of $8.39. The company has a market cap of $10.43 billion, a PE ratio of -17.18, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. The company has a quick ratio of 0.73, a current ratio of 1.07 and a debt-to-equity ratio of 2.03.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.75 billion. Teva Pharmaceutical Industries had a positive return on equity of 24.04% and a negative net margin of 3.95%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Hafrun Fridriksdottir sold 130,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $8.22, for a total transaction of $1,068,600.00. Following the transaction, the vice president now owns 1,387 shares of the company’s stock, valued at $11,401.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC lifted its position in Teva Pharmaceutical Industries by 100,000.0% in the first quarter. Fieldpoint Private Securities LLC now owns 3,003 shares of the company’s stock valued at $28,000 after purchasing an additional 3,000 shares during the period. Atlas Capital Advisors LLC lifted its position in Teva Pharmaceutical Industries by 33.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 10,690 shares of the company’s stock valued at $86,000 after purchasing an additional 2,669 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at about $94,000. Quantbot Technologies LP acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at about $110,000. Finally, Sequoia Financial Advisors LLC lifted its position in Teva Pharmaceutical Industries by 15.6% in the first quarter. Sequoia Financial Advisors LLC now owns 12,690 shares of the company’s stock valued at $119,000 after purchasing an additional 1,713 shares during the period. Hedge funds and other institutional investors own 45.79% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

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Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. The company offers sterile products, hormones, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams.

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