Teva Pharmaceutical Industries (NYSE:TEVA) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen cut shares of Teva Pharmaceutical Industries (NYSE:TEVA - Free Report) from a buy rating to a hold rating in a research report released on Friday morning.

TEVA has been the topic of several other reports. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Bank of America lifted their price target 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 started coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $23.00 in a research note on Monday, May 12th. Finally, Truist Financial began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE:TEVA traded down $0.23 during trading on Friday, hitting $16.08. The stock had a trading volume of 12,142,802 shares, compared to its average volume of 10,336,516. The stock has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $16.94. The stock has a market capitalization of $18.44 billion, a price-to-earnings ratio of -13.98, a price-to-earnings-growth ratio of 0.94 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 2.59. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. The company had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.99 billion. During the same period last year, the business earned $0.48 earnings per share. Teva Pharmaceutical Industries's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the transaction, the executive vice president owned 9,989 shares of the company's stock, valued at approximately $170,012.78. The trade was a 38.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in Teva Pharmaceutical Industries by 197,885.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock valued at $338,989,000 after buying an additional 22,044,407 shares in the last quarter. FMR LLC lifted its position in shares of Teva Pharmaceutical Industries by 30.7% during the fourth quarter. FMR LLC now owns 81,983,231 shares of the company's stock worth $1,806,910,000 after purchasing an additional 19,242,468 shares during the last quarter. Duquesne Family Office LLC grew its position in shares of Teva Pharmaceutical Industries by 530.1% in the 4th quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company's stock worth $198,303,000 after acquiring an additional 7,569,450 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Teva Pharmaceutical Industries by 472.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company's stock worth $96,078,000 after purchasing an additional 5,186,592 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Teva Pharmaceutical Industries by 416.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company's stock valued at $91,973,000 after buying an additional 4,824,247 shares during the last quarter. Hedge funds and other institutional investors 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.