Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 1-Year High – Should You Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $30.30 and last traded at $30.0190, with a volume of 3932738 shares changing hands. The stock had previously closed at $29.79.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Scotiabank assumed coverage on Teva Pharmaceutical Industries in a research report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 target price on the stock. Bank of America upped their price objective on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $31.13.

Teva Pharmaceutical Industries Stock Performance

The stock’s 50 day moving average price is $23.83 and its 200 day moving average price is $19.81. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The firm has a market cap of $34.44 billion, a PE ratio of 50.04, a P/E/G ratio of 1.79 and a beta of 0.67.

Insider Transactions at Teva Pharmaceutical Industries

In other news, insider Mark Sabag sold 216,892 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total value of $6,231,307.16. Following the completion of the sale, the insider owned 52,828 shares of the company’s stock, valued at $1,517,748.44. This represents a 80.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roberto Mignone sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $24.11, for a total value of $4,822,000.00. Following the transaction, the director directly owned 495,000 shares in the company, valued at $11,934,450. This trade represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 532,360 shares of company stock valued at $14,364,929 over the last quarter. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Teva Pharmaceutical Industries by 28.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,324,936 shares of the company’s stock worth $20,364,000 after buying an additional 296,012 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Teva Pharmaceutical Industries by 30.0% during the 1st quarter. Russell Investments Group Ltd. now owns 265,777 shares of the company’s stock worth $4,085,000 after acquiring an additional 61,330 shares in the last quarter. Aberdeen Group plc increased its position in shares of Teva Pharmaceutical Industries by 56.7% in the 1st quarter. Aberdeen Group plc now owns 790,598 shares of the company’s stock worth $12,151,000 after purchasing an additional 286,206 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Teva Pharmaceutical Industries by 5.5% in the 1st quarter. American Century Companies Inc. now owns 228,420 shares of the company’s stock valued at $3,511,000 after purchasing an additional 11,897 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Teva Pharmaceutical Industries by 151.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 35,679 shares of the company’s stock worth $548,000 after purchasing an additional 21,479 shares during the last quarter. 54.05% of the stock is 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.