Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded to "Strong-Buy" at Truist Financial

Truist Financial upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA - Free Report) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

TEVA has been the topic of a number of other reports. Bank of America raised their price objective on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays dropped their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $21.00 to $23.00 in a report on Monday, May 12th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $24.50.

Teva Pharmaceutical Industries Price Performance

TEVA stock traded up $0.20 during midday trading on Tuesday, hitting $16.98. 4,020,233 shares of the stock were exchanged, compared to its average volume of 10,081,848. The stock's 50-day moving average price is $15.52 and its 200-day moving average price is $17.37. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of -11.73, a PEG ratio of 1.44 and a beta of 0.62. Teva Pharmaceutical Industries has a fifty-two week low of $12.47 and a fifty-two week high of $22.80. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 earnings per share. Research analysts predict that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current year.

Institutional Trading of Teva Pharmaceutical Industries

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of Teva Pharmaceutical Industries by 0.8% in the 1st quarter. Rhumbline Advisers now owns 281,062 shares of the company's stock worth $4,320,000 after buying an additional 2,128 shares in the last quarter. Strs Ohio purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at $2,354,000. Geneos Wealth Management Inc. grew its holdings in shares of Teva Pharmaceutical Industries by 49.4% during the first quarter. Geneos Wealth Management Inc. now owns 34,547 shares of the company's stock valued at $531,000 after buying an additional 11,425 shares in the last quarter. Intech Investment Management LLC increased its position in Teva Pharmaceutical Industries by 43.6% in the 1st quarter. Intech Investment Management LLC now owns 349,340 shares of the company's stock worth $5,369,000 after purchasing an additional 106,108 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Teva Pharmaceutical Industries by 4.5% in the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock worth $616,000 after purchasing an additional 1,739 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.