Teva Pharmaceutical Industries (NYSE:TEVA) Given New $47.00 Price Target at Barclays

Key Points

• Barclays raised Teva’s price target from $42 to $47 and maintained an “overweight” rating, implying approximately 13.24% upside from the reported $41.51 share price.
• Analyst sentiment is broadly positive: 12 analysts rate Teva a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $45.92.
• Teva shares traded near their 52-week high, while institutional investors owned 54.05% of the company; insiders sold approximately $14.6 million worth of shares over the last three months.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) had its target price upped by equities research analysts at Barclays from $42.00 to $47.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 13.24% from the stock's current price.

A number of other research analysts have also commented on TEVA. Piper Sandler upped their price target on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Monday. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, UBS Group boosted their price objective on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.92.

Teva Pharmaceutical Industries Stock Performance

TEVA traded up $0.79 during trading hours on Thursday, reaching $41.51. The company's stock had a trading volume of 937,432 shares, compared to its average volume of 6,804,032. Teva Pharmaceutical Industries has a 52 week low of $18.83 and a 52 week high of $42.02. The company's 50-day moving average is $38.03 and its 200-day moving average is $34.76. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a market cap of $48.37 billion, a PE ratio of 69.03, a price-to-earnings-growth ratio of 3.83 and a beta of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data 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. On average, equities analysts forecast that Teva Pharmaceutical Industries will post 2.00 EPS for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 367,600 shares of the firm's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $39.06, for a total transaction of $14,358,456.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian Savage sold 7,342 shares of the firm's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $38.85, for a total transaction of $285,236.70. Following the transaction, the insider directly owned 8,500 shares in the company, valued at approximately $330,225. This represents a 46.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 374,959 shares of company stock valued at $14,644,285. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new position in shares of Teva Pharmaceutical Industries in the 1st quarter valued at $9,126,000. WCM Investment Management LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 191.4% during 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 in the last quarter. Swiss National Bank grew its position in Teva Pharmaceutical Industries by 28.7% during the 1st quarter. Swiss National Bank now owns 4,227,900 shares of the company's stock worth $127,344,000 after acquiring an additional 941,700 shares during the last quarter. National Pension Service grew its position in Teva Pharmaceutical Industries by 4.9% during the 2nd quarter. National Pension Service now owns 2,406,013 shares of the company's stock worth $81,516,000 after acquiring an additional 112,357 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its position in Teva Pharmaceutical Industries by 43.8% during the 1st quarter. iA Global Asset Management Inc. now owns 299,035 shares of the company's stock worth $9,007,000 after acquiring an additional 91,026 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. 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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