Wall Street Zen Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other equities analysts have also recently commented on TEVA. Piper Sandler lifted their target price on shares of Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Scotiabank started coverage on shares of Teva Pharmaceutical Industries in a report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price target on the stock. Barclays initiated coverage on shares of Teva Pharmaceutical Industries in a report on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their target price 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. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.67.

Teva Pharmaceutical Industries Trading Down 1.8%

NYSE TEVA opened at $31.78 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.82 and a current ratio of 1.11. Teva Pharmaceutical Industries has a 52 week low of $12.47 and a 52 week high of $33.42. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 1.82 and a beta of 0.66. The stock’s 50 day moving average price is $29.00 and its two-hundred day moving average price is $22.11.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, CAO Amir Weiss sold 12,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $30.20, for a total transaction of $371,460.00. Following the sale, the chief accounting officer owned 5,650 shares of the company’s stock, valued at approximately $170,630. This trade represents a 68.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Sabag sold 216,892 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total value of $6,231,307.16. Following the sale, the insider owned 52,828 shares of the company’s stock, valued at $1,517,748.44. This trade represents a 80.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 622,060 shares of company stock valued at $17,076,965 over the last quarter. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bourgeon Capital Management LLC boosted its position in shares of Teva Pharmaceutical Industries by 100.7% during the 2nd quarter. Bourgeon Capital Management LLC now owns 723,974 shares of the company’s stock worth $12,134,000 after purchasing an additional 363,252 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Teva Pharmaceutical Industries by 9.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 226,534 shares of the company’s stock worth $3,797,000 after buying an additional 19,447 shares during the period. Vontobel Holding Ltd. increased its position in shares of Teva Pharmaceutical Industries by 5.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 719,676 shares of the company’s stock worth $12,062,000 after purchasing an additional 37,455 shares during the last quarter. Oak Harvest Investment Services acquired a new stake in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at approximately $1,010,000. Finally, Swiss National Bank raised its position in Teva Pharmaceutical Industries by 15.5% in the 2nd quarter. Swiss National Bank now owns 3,616,500 shares of the company’s stock valued at $60,613,000 after buying an additional 486,100 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

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.