Teva Pharmaceutical Industries (NYSE:TEVA) Rating Lowered to Hold at Wall Street Zen

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

Several other research firms have also recently commented on TEVA. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a "buy" rating and a $24.00 target price on the stock. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Truist Financial assumed coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price on the stock. UBS Group cut their target price on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $21.00 to $23.00 in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries Trading Down 0.6%

TEVA stock traded down $0.10 during midday trading on Friday, reaching $16.22. The stock had a trading volume of 3,408,335 shares, compared to its average volume of 10,301,349. The business has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $16.87. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 2.59. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 0.94 and a beta of 0.60. Teva Pharmaceutical Industries has a twelve month low of $12.47 and a twelve month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm earned $0.48 EPS. Teva Pharmaceutical Industries's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Teva Pharmaceutical Industries will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Matthew Shields sold 6,206 shares of the firm's stock in a transaction on 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 owned 9,989 shares in the company, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Teva Pharmaceutical Industries

Several large investors have recently bought and sold shares of the business. FMR LLC raised 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 acquiring an additional 19,242,468 shares during the last quarter. Ion Asset Management Ltd. raised its position in shares of Teva Pharmaceutical Industries by 6.5% during the first quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company's stock worth $599,945,000 after acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its position in shares of Teva Pharmaceutical Industries by 2.8% during the first quarter. Menora Mivtachim Holdings LTD. now owns 29,189,316 shares of the company's stock worth $448,640,000 after acquiring an additional 808,074 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Teva Pharmaceutical Industries by 1.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock worth $404,775,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Teva Pharmaceutical Industries by 197,885.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock worth $338,989,000 after purchasing an additional 22,044,407 shares in the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

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.