Piper Sandler Reiterates Overweight Rating for Teva Pharmaceutical Industries (NYSE:TEVA)

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at Piper Sandler in a research note issued on Monday, Benzinga reports. They presently have a $20.00 price objective on the stock, up from their previous price objective of $19.00. Piper Sandler's price objective would indicate a potential upside of 18.55% from the company's current price.

Several other equities analysts also recently issued reports on TEVA. Barclays upped their price objective on shares of Teva Pharmaceutical Industries from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group raised their target price on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from an "underweight" rating to a "neutral" rating and set a $14.00 price target on the stock in a research note on Friday, March 8th. StockNews.com cut Teva Pharmaceutical Industries from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, Jefferies Financial Group upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating and upped their target price for the company from $10.00 to $14.00 in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.22.

Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock traded up $0.62 during mid-day trading on Monday, reaching $16.87. 18,575,005 shares of the company's stock traded hands, compared to its average volume of 10,976,662. Teva Pharmaceutical Industries has a 12-month low of $7.09 and a 12-month high of $16.99. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.20. The stock has a 50 day moving average of $13.81 and a two-hundred day moving average of $11.86. The company has a market cap of $18.91 billion, a price-to-earnings ratio of -39.63, a PEG ratio of 1.95 and a beta of 1.04.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, VP Eric Drape sold 173,261 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $13.05, for a total transaction of $2,261,056.05. Following the completion of the transaction, the vice president now directly owns 1 shares in the company, valued at $13.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Teva Pharmaceutical Industries news, EVP Mark Sabag sold 100,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.52, for a total transaction of $1,352,000.00. Following the sale, the executive vice president now owns 382,590 shares in the company, valued at approximately $5,172,616.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Drape sold 173,261 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.05, for a total value of $2,261,056.05. Following the completion of the transaction, the vice president now owns 1 shares of the company's stock, valued at approximately $13.05. The disclosure for this sale can be found here. Insiders sold a total of 358,972 shares of company stock worth $4,739,820 over the last three months. Insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently added to or reduced their stakes in TEVA. Commonwealth Equity Services LLC grew its holdings in shares of Teva Pharmaceutical Industries by 5.2% during the third quarter. Commonwealth Equity Services LLC now owns 255,477 shares of the company's stock worth $2,606,000 after purchasing an additional 12,587 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Teva Pharmaceutical Industries by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,902,235 shares of the company's stock valued at $19,403,000 after buying an additional 19,906 shares during the last quarter. Advisor Partners II LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 62.5% in the third quarter. Advisor Partners II LLC now owns 25,359 shares of the company's stock valued at $259,000 after acquiring an additional 9,757 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Teva Pharmaceutical Industries during the third quarter worth approximately $164,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Teva Pharmaceutical Industries by 6.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 388,338 shares of the company's stock valued at $3,961,000 after acquiring an additional 22,893 shares during the period. Hedge funds and other institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Company Profile

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.