Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $40.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price increased by Jefferies Financial Group from $29.00 to $40.00 in a research note released on Tuesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research analysts also recently commented on TEVA. Barclays started coverage on shares of Teva Pharmaceutical Industries in a research note on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Finally, Bank of America lifted their target price on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $33.67.

Teva Pharmaceutical Industries Stock Performance

Shares of Teva Pharmaceutical Industries stock opened at $32.50 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. The stock’s fifty day moving average is $27.81 and its two-hundred day moving average is $21.43. Teva Pharmaceutical Industries has a 52 week low of $12.47 and a 52 week high of $32.91. The company has a market capitalization of $37.27 billion, a PE ratio of 54.16, a price-to-earnings-growth ratio of 1.88 and a beta of 0.66.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, CAO Amir Weiss sold 12,300 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $30.20, for a total value of $371,460.00. Following the transaction, the chief accounting officer owned 5,650 shares in the company, valued at $170,630. The trade was a 68.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Sabag sold 216,892 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total transaction of $6,231,307.16. Following the sale, the insider directly owned 52,828 shares of the company’s stock, valued at approximately $1,517,748.44. The trade was a 80.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 622,060 shares of company stock valued at $17,076,965. 0.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Teva Pharmaceutical Industries by 51.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,390,327 shares of the company’s stock valued at $559,622,000 after acquiring an additional 11,334,780 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its holdings in shares of Teva Pharmaceutical Industries by 31.9% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 38,493,294 shares of the company’s stock valued at $645,148,000 after purchasing an additional 9,303,978 shares during the last quarter. Phoenix Financial Ltd. boosted its position in shares of Teva Pharmaceutical Industries by 31.7% in the 2nd quarter. Phoenix Financial Ltd. now owns 37,761,444 shares of the company’s stock worth $632,882,000 after purchasing an additional 9,094,372 shares in the last quarter. Soundwatch Capital LLC purchased a new position in Teva Pharmaceutical Industries during the 2nd quarter worth $143,533,000. Finally, Wellington Management Group LLP increased its position in Teva Pharmaceutical Industries by 39,228.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after buying an additional 6,878,304 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.