Teva Pharmaceutical Industries (NYSE:TEVA) Given New $32.00 Price Target at Bank of America

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target boosted by Bank of America from $29.00 to $32.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on TEVA. Scotiabank initiated coverage on Teva Pharmaceutical Industries in a research note on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 target price on the stock. Barclays assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Tuesday. They issued an “overweight” rating and a $35.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday. UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries has an average rating of “Buy” and an average target price of $30.25.

Teva Pharmaceutical Industries Stock Up 0.8%

Shares of NYSE:TEVA opened at $28.56 on Tuesday. The firm has a market capitalization of $32.75 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. The business has a 50 day simple moving average of $22.83 and a two-hundred day simple moving average of $19.37. Teva Pharmaceutical Industries has a 1 year low of $12.47 and a 1 year high of $29.10. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.11 and a quick ratio of 0.82.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 200,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $24.11, for a total transaction of $4,822,000.00. Following the sale, the director owned 495,000 shares of the company’s stock, valued at approximately $11,934,450. This trade represents a 28.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in the stock. Steadtrust LLC grew its stake in Teva Pharmaceutical Industries by 58.1% in the third quarter. Steadtrust LLC now owns 37,300 shares of the company’s stock valued at $753,000 after purchasing an additional 13,700 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Teva Pharmaceutical Industries during the third quarter valued at about $1,392,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 15.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,020 shares of the company’s stock valued at $81,000 after buying an additional 540 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at about $234,000. Finally, Centaurus Financial Inc. grew its position in shares of Teva Pharmaceutical Industries by 25.2% in the 3rd quarter. Centaurus Financial Inc. now owns 51,612 shares of the company’s stock worth $1,043,000 after buying an additional 10,384 shares during the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.