Teva Pharmaceutical Industries (NYSE:TEVA) Stock Price Target Raised at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Teva’s price target from $40 to $50 while maintaining an “overweight” rating, implying 22.44% upside from the prior close.
• Analyst sentiment is broadly positive: 12 analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average target price of $45.50.
• Teva shares fell 0.6% to $40.84 in Monday trading, while insiders sold roughly $14.6 million of stock over the past 90 days; institutional investors own 54.05% of the company.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) had its price target raised by JPMorgan Chase & Co. from $40.00 to $50.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 22.44% from the stock's previous close.

A number of other research firms have also issued reports on TEVA. Oppenheimer assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, September 23rd. They set an "outperform" rating and a $50.00 price objective on the stock. UBS Group upped their target price on shares of Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, September 4th. Leerink Partners began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, September 9th. They issued an "outperform" rating and a $45.00 target price for the company. Piper Sandler raised their price target 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, Weiss Ratings raised shares of Teva Pharmaceutical Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Twelve 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, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and an average target price of $45.50.

Teva Pharmaceutical Industries Stock Down 0.6%

Shares of TEVA traded down $0.27 during midday trading on Monday, reaching $40.84. 3,897,236 shares of the company were exchanged, compared to its average volume of 6,798,162. Teva Pharmaceutical Industries has a 1-year low of $18.83 and a 1-year high of $42.02. The stock has a 50-day moving average price of $37.64 and a 200-day moving average price of $34.52. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. The company has a market cap of $47.58 billion, a price-to-earnings ratio of 67.82, a P/E/G ratio of 3.79 and a beta of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. Research analysts expect that Teva Pharmaceutical Industries will post 2.00 earnings per share for the current year.

Insider Activity at Teva Pharmaceutical Industries

In other news, insider Brian Savage sold 7,342 shares of the firm's 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 completion of the sale, the insider owned 8,500 shares of the company's stock, valued at approximately $330,225. This trade represents a 46.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roberto Mignone sold 367,600 shares of Teva Pharmaceutical Industries stock in a transaction on Friday, September 18th. The stock was sold at an average price of $39.06, for a total transaction of $14,358,456.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 374,959 shares of company stock worth $14,644,285 over the last 90 days. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of 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. WCM Investment Management LLC raised its position 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 worth $1,157,264,000 after purchasing an additional 26,813,522 shares during the period. Altshuler Shaham Ltd raised its position in shares of Teva Pharmaceutical Industries by 2.4% during the 4th quarter. Altshuler Shaham Ltd now owns 8,494,121 shares of the company's stock worth $268,670,000 after purchasing an additional 196,697 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Teva Pharmaceutical Industries by 5.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,671,157 shares of the company's stock worth $259,899,000 after purchasing an additional 419,329 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Teva Pharmaceutical Industries by 24.4% in the 4th quarter. Polar Capital Holdings Plc now owns 4,987,690 shares of the company's stock worth $155,666,000 after purchasing an additional 978,608 shares during the last quarter. 54.05% of the stock is currently owned by 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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