Piper Sandler Raises Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $44.00

Key Points

• Piper Sandler raised Teva’s price target from $42 to $44 and maintained an “overweight” rating, implying approximately 40.87% upside from the stock’s reported $31.23 price.
• Analyst sentiment is broadly positive: nine analysts rate Teva a Buy and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $42.
• Teva reported quarterly revenue of $3.98 billion and EPS of $0.53, while company insiders sold roughly 465,931 shares worth $16.3 million over the past 90 days.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) had its price objective lifted by analysts at Piper Sandler from $42.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 40.87% from the stock's current price.

Other equities analysts have also recently issued reports about the company. UBS Group lifted their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Truist Financial increased their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen cut Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. boosted their price objective on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA traded up $0.15 during trading hours on Tuesday, reaching $31.23. 1,128,932 shares of the company's stock were exchanged, compared to its average volume of 7,212,407. The company has a market capitalization of $35.91 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 3.25 and a beta of 0.86. Teva Pharmaceutical Industries has a 12 month low of $14.99 and a 12 month high of $37.35. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. The business's 50-day simple moving average is $33.23 and its two-hundred day simple moving average is $32.68.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The firm had revenue of $3.98 billion for the quarter. Sell-side analysts expect that Teva Pharmaceutical Industries will post 1.99 EPS for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Richard Daniell sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total value of $1,062,000.00. Following the completion of the sale, the executive vice president directly owned 55,755 shares of the company's stock, valued at $1,973,727. The trade was a 34.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $36.00, for a total transaction of $384,444.00. Following the transaction, the chief accounting officer owned 20,016 shares in the company, valued at approximately $720,576. This trade represents a 34.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 465,931 shares of company stock valued at $16,332,989 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in shares of Teva Pharmaceutical Industries by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,608,387 shares of the company's stock valued at $112,618,000 after purchasing an additional 228,189 shares during the period. Norges Bank acquired a new position in Teva Pharmaceutical Industries in the 4th quarter valued at $1,098,060,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Teva Pharmaceutical Industries by 8.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,082,578 shares of the company's stock worth $33,506,000 after acquiring an additional 80,106 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Teva Pharmaceutical Industries in the 1st quarter worth $9,126,000. Finally, TD Asset Management Inc lifted its position in Teva Pharmaceutical Industries by 47.1% during the 4th quarter. TD Asset Management Inc now owns 369,023 shares of the company's stock worth $11,517,000 after acquiring an additional 118,075 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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