Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up - Here's What Happened

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $14.87, but opened at $15.33. Teva Pharmaceutical Industries shares last traded at $15.37, with a volume of 1,628,099 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TEVA shares. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday. Piper Sandler lifted their price target on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. UBS Group cut their price objective on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, January 30th. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Finally, Bank of America dropped their target price on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $23.43.

Teva Pharmaceutical Industries Stock Up 0.8 %

The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75. The firm's 50 day moving average is $15.11 and its two-hundred day moving average is $17.51. The firm has a market capitalization of $17.73 billion, a P/E ratio of -10.78, a PEG ratio of 1.44 and a beta of 0.72.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. Research analysts predict that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEVA. Robeco Institutional Asset Management B.V. lifted its stake in Teva Pharmaceutical Industries by 7.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company's stock valued at $10,983,000 after purchasing an additional 33,277 shares during the last quarter. Pinnbrook Capital Management LP acquired a new position in shares of Teva Pharmaceutical Industries during the fourth quarter worth $4,966,000. Asset Management One Co. Ltd. lifted its stake in shares of Teva Pharmaceutical Industries by 14.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company's stock valued at $10,414,000 after acquiring an additional 58,413 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter valued at $3,340,000. Finally, Allspring Global Investments Holdings LLC grew its position in Teva Pharmaceutical Industries by 2,018.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,097,096 shares of the company's stock worth $23,368,000 after acquiring an additional 1,045,305 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

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.