Piper Sandler Lowers Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $7.00

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) had its target price cut by equities research analysts at Piper Sandler from $8.00 to $7.00 in a research report issued on Wednesday, The Fly reports. The firm currently has an “underweight” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 20.45% from the stock’s previous close.

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

Teva Pharmaceutical Industries Stock Down 1.9 %

NYSE TEVA opened at $8.80 on Wednesday. The business 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 debt-to-equity ratio of 1.94, a current ratio of 0.99 and a quick ratio of 0.66. Teva Pharmaceutical Industries has a fifty-two week low of $6.78 and a fifty-two week high of $11.34. The stock has a market capitalization of $9.77 billion, a PE ratio of -7.59 and a beta of 1.27.

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

Institutional Trading of Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently bought and sold shares of TEVA. Private Trust Co. NA bought a new stake in Teva Pharmaceutical Industries during the second quarter valued at $32,000. Credit Agricole S A bought a new stake in Teva Pharmaceutical Industries during the second quarter valued at $34,000. Aaron Wealth Advisors LLC bought a new stake in Teva Pharmaceutical Industries during the first quarter valued at $603,000. Newbridge Financial Services Group Inc. boosted its position in Teva Pharmaceutical Industries by 555.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 5,900 shares of the company’s stock valued at $48,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Teva Pharmaceutical Industries by 213.8% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 6,678 shares of the company’s stock valued at $54,000 after acquiring an additional 4,550 shares during the last quarter. 46.22% of the stock is currently owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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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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