Teva Pharmaceutical Industries (NYSE:TEVA) Trading Down 4.2% on Analyst Downgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Rating)’s share price traded down 4.2% on Wednesday after Piper Sandler lowered their price target on the stock from $8.00 to $7.00. Piper Sandler currently has an underweight rating on the stock. Teva Pharmaceutical Industries traded as low as $8.55 and last traded at $8.59. 161,971 shares traded hands during trading, a decline of 98% from the average session volume of 10,116,318 shares. The stock had previously closed at $8.97.

A number of other research firms also recently commented on TEVA. Bank of America upgraded Teva Pharmaceutical Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $13.00 in a research note on Friday, August 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 price target on shares of Teva Pharmaceutical Industries in a research note on Friday, October 21st. JPMorgan Chase & Co. downgraded Teva Pharmaceutical Industries from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Monday, November 14th. The Goldman Sachs Group lifted their price target on Teva Pharmaceutical Industries from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Finally, StockNews.com assumed coverage on Teva Pharmaceutical Industries in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.44.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in TEVA. Exor Capital LLP bought a new stake in shares of Teva Pharmaceutical Industries during the third quarter valued at approximately $92,984,000. Two Sigma Investments LP raised its holdings in shares of Teva Pharmaceutical Industries by 705.1% during the third quarter. Two Sigma Investments LP now owns 5,283,501 shares of the company’s stock valued at $42,638,000 after buying an additional 4,627,252 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 23.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,132,727 shares of the company’s stock valued at $114,051,000 after buying an additional 2,685,200 shares during the last quarter. Phoenix Holdings Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 11.8% during the third quarter. Phoenix Holdings Ltd. now owns 20,831,080 shares of the company’s stock valued at $162,941,000 after buying an additional 2,201,291 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Teva Pharmaceutical Industries during the second quarter valued at approximately $15,342,000. Institutional investors own 46.22% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

The stock has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $8.63. The company has a market cap of $9.77 billion, a P/E ratio of -7.59 and a beta of 1.27. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.99 and a quick ratio of 0.66.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). Teva Pharmaceutical Industries had a negative net margin of 8.52% and a positive return on equity of 26.97%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.86 billion. On average, equities analysts forecast that Teva Pharmaceutical Industries Limited will post 2.42 earnings per share for the current fiscal year.

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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