Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up to $15.81

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $15.81, but opened at $16.20. Teva Pharmaceutical Industries shares last traded at $16.13, with a volume of 1,843,009 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Piper Sandler reissued an “overweight” rating and set a $20.00 price target (up from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Bank of America lifted their target price on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays raised their price target on Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Finally, Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.33.

Check Out Our Latest Research Report on Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Stock Performance

The stock has a market capitalization of $18.33 billion, a P/E ratio of -38.54, a PEG ratio of 1.55 and a beta of 0.90. The stock’s 50-day simple moving average is $16.41 and its 200 day simple moving average is $14.01. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.89 and a quick ratio of 0.61.

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Teva Pharmaceutical Industries had a negative net margin of 2.88% and a positive return on equity of 37.33%. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.70 billion. Research analysts expect that Teva Pharmaceutical Industries Limited will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vikki L. Conway sold 15,219 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $16.74, for a total value of $254,766.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Teva Pharmaceutical Industries news, insider Vikki L. Conway sold 15,219 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $16.74, for a total transaction of $254,766.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roberto Mignone sold 519,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total value of $8,838,570.00. Following the completion of the sale, the director now directly owns 981,000 shares in the company, valued at approximately $16,706,430. The disclosure for this sale can be found here. Insiders have sold a total of 549,719 shares of company stock worth $9,353,736 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in Teva Pharmaceutical Industries in the 1st quarter valued at approximately $28,000. EntryPoint Capital LLC bought a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at $30,000. Blue Trust Inc. lifted its holdings in shares of Teva Pharmaceutical Industries by 92.3% during the fourth quarter. Blue Trust Inc. now owns 4,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,180 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries in the second quarter worth $48,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at $54,000. 54.05% of the stock is owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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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.

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