Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded at Wall Street Zen

Key Points

• Teva Pharmaceutical Industries has recently been upgraded by Wall Street Zen from a "hold" to a "buy" rating, with other analysts following suit, indicating strong support for the stock.
• The current consensus price target for Teva's stock is $24.71, with major firms like JPMorgan Chase and Bank of America also raising their price targets for the company.
• Teva recently reported a quarterly earnings per share of $0.52, exceeding expectations, although their revenue slightly fell short of analysts' estimates.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. upgraded 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 report on Monday, May 12th. The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They set a "buy" rating and a $24.00 target price on the stock. Bank of America boosted their price target on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Finally, UBS Group cut their price target on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $24.71.

Teva Pharmaceutical Industries Stock Performance

TEVA stock opened at $16.53 on Friday. The business's 50-day moving average price is $16.93 and its two-hundred day moving average price is $16.80. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. The firm has a market cap of $18.96 billion, a PE ratio of -14.38, a P/E/G ratio of 0.96 and a beta of 0.60. Teva Pharmaceutical Industries has a 1-year low of $12.47 and a 1-year high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results 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. The firm 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 45.44% and a negative net margin of 7.74%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, research analysts forecast that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current year.

Insider Activity

In related news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company's stock.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Teva Pharmaceutical Industries by 30.7% in the fourth quarter. FMR LLC now owns 81,983,231 shares of the company's stock valued at $1,806,910,000 after acquiring an additional 19,242,468 shares during the last quarter. Ion Asset Management Ltd. increased its position in shares of Teva Pharmaceutical Industries by 6.5% in the first quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company's stock valued at $599,945,000 after acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Teva Pharmaceutical Industries by 2.8% in the first quarter. Menora Mivtachim Holdings LTD. now owns 29,189,316 shares of the company's stock valued at $448,640,000 after acquiring an additional 808,074 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 valued at $404,775,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased 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 worth $338,989,000 after buying an additional 22,044,407 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.