Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 52-Week High - Time to Buy?

Key Points

• Teva shares reached a new 52-week high of $37.83, up from a prior close of $36.93, with the stock trading above both its 50-day and 200-day moving averages.
• Analyst sentiment is largely positive: nine analysts rate Teva a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $42.22.
• Teva reported quarterly revenue of $4.14 billion and earnings of $0.02 per share; an executive vice president subsequently sold 106,563 shares, while institutional investors own 54.05% of the company.

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $37.83 and last traded at $37.82, with a volume of 1042924 shares traded. The stock had previously closed at $36.93.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEVA. Barclays increased their price objective on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. UBS Group boosted their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Truist Financial lifted their price target on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.22.

Teva Pharmaceutical Industries Stock Up 1.7%

The stock has a market capitalization of $43.75 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 3.99 and a beta of 0.86. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average price of $33.88 and a 200 day moving average price of $33.11.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results 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 business had revenue of $4.14 billion for the quarter. As a group, analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $34.10, for a total value of $3,633,798.30. Following the completion of the sale, the executive vice president directly owned 65,621 shares in the company, valued at $2,237,676.10. This represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Teva Pharmaceutical Industries by 24.6% during the first quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock worth $368,000 after acquiring an additional 4,732 shares during the last quarter. Focus Partners Wealth increased its position in Teva Pharmaceutical Industries by 4.5% during the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after purchasing an additional 1,739 shares during the period. Franklin Resources Inc. bought a new position in Teva Pharmaceutical Industries during the 2nd quarter worth approximately $255,000. Flow Traders U.S. LLC bought a new position in Teva Pharmaceutical Industries during the 2nd quarter worth approximately $238,000. Finally, Cerity Partners LLC lifted its holdings in Teva Pharmaceutical Industries by 2.9% in the second quarter. Cerity Partners LLC now owns 45,837 shares of the company's stock valued at $768,000 after buying an additional 1,291 shares during the period. Institutional investors and hedge funds own 54.05% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source