Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 1-Year High After Analyst Upgrade

Key Points

• Teva shares reached a new 52-week high after Barclays raised its price target from $40 to $42 and maintained an “overweight” rating. The stock traded as high as $37.39.
• Analyst sentiment is broadly positive: nine analysts rate Teva a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $42.22.
• Institutional investors own 54.05% of Teva, while an executive vice president recently sold 106,563 shares for approximately $3.63 million, reducing his holdings by 61.89%.

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after Barclays raised their price target on the stock from $40.00 to $42.00. Barclays currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as high as $37.39 and last traded at $36.9120, with a volume of 767207 shares trading hands. The stock had previously closed at $36.74.

A number of other brokerages have also recently issued reports on TEVA. JPMorgan Chase & Co. boosted their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. UBS Group lifted their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, July 31st. Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Finally, Truist Financial raised their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of "Moderate Buy" and a consensus price target of $42.22.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the transaction, the executive vice president owned 65,621 shares of the company's stock, valued at approximately $2,237,676.10. The trade was a 61.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC increased its stake 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 buying an additional 755 shares during the period. Allworth Financial LP increased 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 valued at $29,000 after buying an additional 329 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Teva Pharmaceutical Industries by 51.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Teva Pharmaceutical Industries by 567.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,334 shares of the company's stock worth $42,000 after acquiring an additional 1,134 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

The stock has a 50 day moving average of $33.43 and a 200 day moving average of $32.93. The company has a market capitalization of $42.90 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 3.90 and a beta of 0.86. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The business had revenue of $4.14 billion during the quarter. As a group, analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

Teva Pharmaceutical Industries Company Profile

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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