Teva Pharmaceutical Industries Limited (NYSE:TEVA) Sees Large Increase in Short Interest

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 38,700,000 shares, a growth of 36.1% from the April 30th total of 28,430,000 shares. Based on an average daily trading volume, of 12,300,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TEVA shares. Truist Financial started coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price on the stock. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their price target for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Bank of America boosted their price objective on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Buy" and an average price target of $24.50.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total transaction of $105,626.12. Following the completion of the sale, the executive vice president now directly owns 9,989 shares of the company's stock, valued at $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Teva Pharmaceutical Industries by 0.8% in the first quarter. Rhumbline Advisers now owns 281,062 shares of the company's stock worth $4,320,000 after acquiring an additional 2,128 shares in the last quarter. Strs Ohio bought a new stake in Teva Pharmaceutical Industries in the first quarter worth $2,354,000. Geneos Wealth Management Inc. increased its position in Teva Pharmaceutical Industries by 49.4% during the first quarter. Geneos Wealth Management Inc. now owns 34,547 shares of the company's stock worth $531,000 after buying an additional 11,425 shares during the last quarter. Intech Investment Management LLC raised its holdings in Teva Pharmaceutical Industries by 43.6% during the first quarter. Intech Investment Management LLC now owns 349,340 shares of the company's stock valued at $5,369,000 after buying an additional 106,108 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in Teva Pharmaceutical Industries by 4.5% during the first quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after buying an additional 1,739 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Down 1.6%

Shares of NYSE TEVA traded down $0.29 during mid-day trading on Thursday, reaching $17.24. The company had a trading volume of 10,909,379 shares, compared to its average volume of 10,135,027. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of -11.89, a PEG ratio of 1.44 and a beta of 0.62. The stock has a fifty day moving average of $15.67 and a two-hundred day moving average of $17.38. Teva Pharmaceutical Industries has a 12-month low of $12.47 and a 12-month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that Teva Pharmaceutical Industries will post 2.5 EPS for the current year.

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.