Leerink Partners Initiates Coverage on Teva Pharmaceutical Industries (NYSE:TEVA)

Key Points

• Leerink Partners initiated coverage of Teva with an “outperform” rating and a $45 price target, implying 21.51% upside from the prior close.
• Analyst sentiment is broadly positive: 10 analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target price of $43.10.
• Teva shares rose 0.7% to $37.03, while institutional investors held 54.05% of the company. The company reported quarterly revenue of $4.14 billion and is expected to generate $1.94 in full-year earnings per share.

Equities researchers at Leerink Partners began coverage on shares of Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) in a report released on Wednesday, Briefing.com reports. The brokerage set an "outperform" rating and a $45.00 price target on the stock. Leerink Partners' price objective would suggest a potential upside of 21.51% from the company's previous close.

Several other research analysts have also weighed in on the company. UBS Group lifted their target price on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, September 4th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Piper Sandler raised their price target on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Barclays lifted their price objective on Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of "Moderate Buy" and a consensus target price of $43.10.

Teva Pharmaceutical Industries Trading Up 0.7%

Shares of Teva Pharmaceutical Industries stock traded up $0.27 during trading on Wednesday, hitting $37.03. 270,513 shares of the company were exchanged, compared to its average volume of 6,941,984. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of $43.15 billion, a P/E ratio of 62.04, a price-to-earnings-growth ratio of 4.53 and a beta of 0.87. The firm's fifty day moving average price is $34.76 and its 200 day moving average price is $33.31. Teva Pharmaceutical Industries has a 1-year low of $18.21 and a 1-year high of $38.37.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The business had revenue of $4.14 billion for the quarter. As a group, sell-side analysts expect that Teva Pharmaceutical Industries will post 1.94 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Kalif sold 106,563 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the transaction, the executive vice president directly owned 65,621 shares of the company's stock, valued at $2,237,676.10. This represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in Teva Pharmaceutical Industries by 2.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company's stock valued at $1,384,216,000 after purchasing an additional 1,004,941 shares during the last quarter. California State Teachers Retirement System lifted its stake in Teva Pharmaceutical Industries by 3,376.3% in the second quarter. California State Teachers Retirement System now owns 43,270,486 shares of the company's stock valued at $1,466,004,000 after acquiring an additional 42,025,742 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Teva Pharmaceutical Industries by 191.4% in the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock valued at $1,157,264,000 after acquiring an additional 26,813,522 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Teva Pharmaceutical Industries by 18.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company's stock valued at $1,171,378,000 after acquiring an additional 5,917,423 shares during the period. Finally, Norges Bank acquired a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $1,098,060,000. Institutional investors and hedge funds own 54.05% of the company's stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in Jerusalem in 1901, the company develops, manufactures and markets generic medicines, specialty pharmaceuticals, biosimilars and active pharmaceutical ingredients.

Teva's specialty medicines include treatments for multiple sclerosis, migraine, movement disorders and respiratory conditions. Its branded portfolio has included Copaxone, Ajovy, Austedo and Uzedy, while its generic medicines business provides products across a broad range of therapeutic areas and dosage forms.

The company serves patients, healthcare providers and pharmaceutical customers in markets across North America, Europe and other international regions.

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