The Goldman Sachs Group Initiates Coverage on Teva Pharmaceutical Industries (NYSE:TEVA)

Equities researchers at The Goldman Sachs Group started coverage on shares of Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $24.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential upside of 39.25% from the company's current price.

Other research analysts also recently issued research reports about the stock. Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and raised their target price for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Truist Financial began coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price for the company. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Nine 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 MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of "Buy" and an average target price of $24.44.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE:TEVA opened at $17.24 on Friday. The business has a 50-day moving average price of $15.67 and a two-hundred day moving average price of $17.38. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. The stock has a market capitalization of $19.54 billion, a P/E ratio of -11.89, a P/E/G ratio of 1.44 and a beta of 0.62. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business posted $0.48 earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current year.

Insider Activity

In other news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the sale, the executive vice president now owns 9,989 shares in the company, valued at $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEVA. Yousif Capital Management LLC boosted its position in shares of Teva Pharmaceutical Industries by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 54,953 shares of the company's stock valued at $1,211,000 after acquiring an additional 1,872 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Teva Pharmaceutical Industries by 2.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,035,422 shares of the company's stock valued at $573,822,000 after purchasing an additional 569,412 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Teva Pharmaceutical Industries by 20.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,369,302 shares of the company's stock valued at $52,219,000 after purchasing an additional 405,741 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new stake in Teva Pharmaceutical Industries in the fourth quarter valued at approximately $66,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Teva Pharmaceutical Industries by 945.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 28,850 shares of the company's stock valued at $636,000 after purchasing an additional 26,091 shares in the last quarter. Institutional investors own 54.05% of the company's stock.

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.

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