TD Cowen Initiates Coverage on Teva Pharmaceutical Industries (NYSE:TEVA)

Key Points

• TD Cowen initiated coverage of Teva Pharmaceutical Industries with a “buy” rating and a $55 price target, implying 38.74% upside from the prior close.
• Analyst sentiment is broadly positive: 12 analysts rate the stock a Buy and one rates it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $44.67.
• Teva shares opened at $39.64, near their 12-month high, while insiders sold approximately $14.6 million of stock over the past 90 days; institutional investors own 54.05% of the company.

Investment analysts at TD Cowen started coverage on shares of Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set a "buy" rating and a $55.00 price target on the stock. TD Cowen's price target suggests a potential upside of 38.74% from the stock's previous close.

A number of other research analysts also recently weighed in on TEVA. Weiss Ratings downgraded Teva Pharmaceutical Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, September 8th. Leerink Partners began coverage on Teva Pharmaceutical Industries in a report on Wednesday, September 9th. They issued an "outperform" rating and a $45.00 price objective for the company. UBS Group raised their price objective on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, September 4th. Piper Sandler boosted their target price on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Barclays lifted their price target on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.67.

Teva Pharmaceutical Industries Stock Down 0.4%

Shares of Teva Pharmaceutical Industries stock opened at $39.64 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. Teva Pharmaceutical Industries has a 12-month low of $18.83 and a 12-month high of $40.79. The company has a market cap of $46.20 billion, a P/E ratio of 66.07, a PEG ratio of 3.77 and a beta of 0.87. The company's fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $34.01.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion during the quarter. Research analysts anticipate that Teva Pharmaceutical Industries will post 1.95 EPS for the current year.

Insider Activity

In other news, Director Roberto Mignone sold 367,600 shares of the company's stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $39.06, for a total value of $14,358,456.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Savage sold 7,342 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $38.85, for a total transaction of $285,236.70. Following the sale, the insider owned 8,500 shares in the company, valued at approximately $330,225. The trade was a 46.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 374,959 shares of company stock valued at $14,644,285. 0.54% of the stock is owned by insiders.

Institutional Trading of Teva Pharmaceutical Industries

Institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its stake in shares of Teva Pharmaceutical Industries by 17.0% in the second quarter. QRG Capital Management Inc. now owns 89,078 shares of the company's stock worth $3,018,000 after purchasing an additional 12,925 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Teva Pharmaceutical Industries by 7.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,311 shares of the company's stock worth $248,000 after buying an additional 483 shares in the last quarter. Bullseye Investment Management LLC purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter worth about $68,000. Sequoia Financial Advisors LLC lifted its stake in Teva Pharmaceutical Industries by 12.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 190,940 shares of the company's stock valued at $6,469,000 after acquiring an additional 21,240 shares during the period. Finally, National Pension Service boosted its holdings in shares of Teva Pharmaceutical Industries by 4.9% during the 2nd quarter. National Pension Service now owns 2,406,013 shares of the company's stock valued at $81,516,000 after acquiring an additional 112,357 shares during 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. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company develops, manufactures and distributes generic medicines, specialty pharmaceuticals, active pharmaceutical ingredients and biosimilars.

Teva's portfolio includes medicines for conditions affecting the central nervous system, respiratory system and other therapeutic areas. Its branded and specialty products include treatments such as Copaxone for multiple sclerosis, Austedo for movement disorders, Ajovy for migraine prevention and Uzedy for schizophrenia.

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