Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 12-Month High - Here's Why

Key Points

• Teva shares reached a new 52-week high, trading around $42.29 and gaining 1.7%, with the stock above both its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive: 12 analysts rate Teva a Buy, while the consensus rating is “Moderate Buy” with an average price target of $46.08. UBS, JPMorgan, Piper Sandler and Leerink Partners recently issued bullish ratings or raised price targets.
• Institutional ownership increased to 54.05%, but insiders sold nearly 375,000 shares worth approximately $14.6 million over the past three months.

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $42.12 and last traded at $42.2940, with a volume of 476,944 shares trading hands. The stock had previously closed at $41.47.

Analyst Ratings Changes

Several research analysts recently commented on TEVA shares. UBS Group lifted their price target on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. Wall Street Zen lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. lifted their target price on Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Piper Sandler boosted their target price on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Finally, Leerink Partners assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, September 9th. They set an "outperform" rating and a $45.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.08.

Teva Pharmaceutical Industries Stock Up 1.7%

The firm has a market cap of $49.13 billion, a PE ratio of 70.37, a P/E/G ratio of 3.71 and a beta of 0.89. 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's 50-day moving average price is $38.97 and its two-hundred day moving average price is $34.50.

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

Insider Activity at Teva Pharmaceutical Industries

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Savage sold 7,342 shares of the company's stock in a transaction dated 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 directly owned 8,500 shares in the company, valued at $330,225. This trade represents a 46.35% decrease in their position. 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 in the last three months. Corporate insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEVA. Y Intercept Hong Kong Ltd purchased a new position in shares of Teva Pharmaceutical Industries during the 1st quarter worth about $9,126,000. WCM Investment Management LLC grew its holdings in Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock valued at $1,157,264,000 after purchasing an additional 26,813,522 shares during the period. Swiss National Bank increased its position in Teva Pharmaceutical Industries by 28.7% during the first quarter. Swiss National Bank now owns 4,227,900 shares of the company's stock worth $127,344,000 after purchasing an additional 941,700 shares during the last quarter. National Pension Service increased its position in Teva Pharmaceutical Industries by 4.9% during the second quarter. National Pension Service now owns 2,406,013 shares of the company's stock worth $81,516,000 after purchasing an additional 112,357 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its stake in Teva Pharmaceutical Industries by 43.8% during the first quarter. iA Global Asset Management Inc. now owns 299,035 shares of the company's stock worth $9,007,000 after purchasing an additional 91,026 shares during the period. 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 is one of the world's largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva's portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.

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