Piper Sandler Issues Positive Forecast for Teva Pharmaceutical Industries (NYSE:TEVA) Stock Price

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target lifted by Piper Sandler from $30.00 to $40.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently commented on TEVA. JPMorgan Chase & Co. upped their price objective on Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Barclays began coverage on shares of Teva Pharmaceutical Industries in a report on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 price objective on the stock. UBS Group boosted their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.88.

Teva Pharmaceutical Industries Trading Up 2.9%

NYSE:TEVA opened at $31.23 on Monday. The company has a market cap of $35.81 billion, a PE ratio of 52.04, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The company has a 50 day simple moving average of $24.66 and a two-hundred day simple moving average of $20.18. Teva Pharmaceutical Industries has a 12 month low of $12.47 and a 12 month high of $31.28.

Insider Activity

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $24.11, for a total value of $4,822,000.00. Following the completion of the transaction, the director directly owned 495,000 shares in the company, valued at $11,934,450. This represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Sabag sold 216,892 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total transaction of $6,231,307.16. Following the completion of the sale, the insider directly owned 52,828 shares of the company’s stock, valued at approximately $1,517,748.44. This trade represents a 80.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 622,060 shares of company stock worth $17,076,965 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in the company. Phoenix Financial Ltd. grew its holdings in Teva Pharmaceutical Industries by 9.4% during the 3rd quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company’s stock valued at $834,164,000 after buying an additional 3,533,800 shares in the last quarter. Ion Asset Management Ltd. boosted its position in shares of Teva Pharmaceutical Industries by 6.5% during the 1st quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company’s stock valued at $599,945,000 after acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in shares of Teva Pharmaceutical Industries by 1.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock valued at $786,190,000 after purchasing an additional 427,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Teva Pharmaceutical Industries by 12.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,696,690 shares of the company’s stock worth $761,455,000 after purchasing an additional 4,306,363 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Teva Pharmaceutical Industries by 13.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,582,212 shares of the company’s stock valued at $658,161,000 after purchasing an additional 3,896,790 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.