Teva Pharmaceutical Industries (NYSE:TEVA) Given New $23.00 Price Target at UBS Group

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) had its price objective decreased by research analysts at UBS Group from $24.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's target price would suggest a potential upside of 35.73% from the company's current price.

A number of other analysts also recently commented on the company. 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 research note on Thursday, May 8th. The Goldman Sachs Group initiated coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $24.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $21.00 to $23.00 in a report on Monday, May 12th. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $24.00.

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA traded down $0.06 during trading hours on Thursday, reaching $16.95. The company's stock had a trading volume of 1,447,519 shares, compared to its average volume of 12,267,842. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. The business has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $17.41. Teva Pharmaceutical Industries has a 52 week low of $12.47 and a 52 week high of $22.80. The stock has a market cap of $19.44 billion, a PE ratio of -14.73, a PEG ratio of 0.88 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm earned $0.48 EPS. Teva Pharmaceutical Industries's revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the transaction, the executive vice president now owns 9,989 shares in the company, valued at $170,012.78. The trade was a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

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 acquired a new stake in shares of Teva Pharmaceutical Industries in the 1st quarter valued at $2,354,000. Geneos Wealth Management Inc. lifted its stake in shares of Teva Pharmaceutical Industries by 49.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 34,547 shares of the company's stock valued at $531,000 after purchasing an additional 11,425 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Teva Pharmaceutical Industries by 43.6% in the first quarter. Intech Investment Management LLC now owns 349,340 shares of the company's stock worth $5,369,000 after purchasing an additional 106,108 shares in the last quarter. Finally, Focus Partners Wealth increased its position in Teva Pharmaceutical Industries by 4.5% during the first quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock worth $616,000 after buying an additional 1,739 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

About Teva Pharmaceutical Industries

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.

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