Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $42.00

Key Points

• Barclays raised Teva’s price target to $42 from $40 and maintained an “overweight” rating, implying 15.14% upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $42.22.
• Teva reported quarterly revenue of $4.14 billion and EPS of $0.02. Shares opened at $36.48, near their one-year high of $37.35, while insiders have sold more than $9.0 million of stock over the past 90 days.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) had its price objective upped by research analysts at Barclays from $40.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 15.14% from the stock's previous close.

Several other brokerages have also recently commented on TEVA. JPMorgan Chase & Co. raised their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Truist Financial raised their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. 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 note on Thursday, April 30th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.22.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $36.48 on Wednesday. The company has a market capitalization of $42.51 billion, a PE ratio of 60.79, a price-to-earnings-growth ratio of 3.87 and a beta of 0.86. 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 stock has a fifty day moving average of $33.35 and a 200-day moving average of $32.89. Teva Pharmaceutical Industries has a one year low of $16.26 and a one year high of $37.35.

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 (EPS) for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%.The company had revenue of $4.14 billion for the quarter. As a group, equities analysts anticipate that Teva Pharmaceutical Industries will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the transaction, the executive vice president directly owned 172,184 shares of the company's stock, valued at $6,131,472.24. This represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 259,831 shares of company stock worth $9,091,659 over the last 90 days. Corporate insiders own 0.54% of the company's stock.

Institutional Trading of Teva Pharmaceutical Industries

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in Teva Pharmaceutical Industries during the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Teva Pharmaceutical Industries by 547.1% in the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock valued at $27,000 after purchasing an additional 755 shares during the period. Allworth Financial LP lifted its stake in shares of Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company's stock worth $29,000 after buying an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Teva Pharmaceutical Industries by 567.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,334 shares of the company's stock worth $42,000 after buying an additional 1,134 shares during the period. Institutional investors 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.

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