Teva Pharmaceutical Industries (NYSE:TEVA) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Other equities research analysts also recently issued reports about the company. Barclays initiated coverage on Teva Pharmaceutical Industries in a research note on Tuesday, December 9th. They set an “overweight” rating and a $35.00 price target for the company. Jefferies Financial Group raised their price objective on shares of Teva Pharmaceutical Industries from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Scotiabank assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 target price for the company. The Goldman Sachs Group increased their price target on shares of Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Piper Sandler lifted their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $33.67.

Teva Pharmaceutical Industries Trading Down 1.2%

NYSE TEVA opened at $31.38 on Friday. Teva Pharmaceutical Industries has a 1-year low of $12.47 and a 1-year high of $33.42. 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 company has a market capitalization of $35.99 billion, a PE ratio of 52.30, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. The firm’s fifty day simple moving average is $29.27 and its 200-day simple moving average is $22.35.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, VP Richard Daniell sold 115,468 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $28.68, for a total value of $3,311,622.24. Following the sale, the vice president owned 48,384 shares of the company’s stock, valued at $1,387,653.12. The trade was a 70.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roberto Mignone sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $24.11, for a total transaction of $4,822,000.00. Following the transaction, the director owned 495,000 shares of the company’s stock, valued at approximately $11,934,450. This represents a 28.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 622,060 shares of company stock worth $17,076,965. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently bought and sold shares of TEVA. AQR Capital Management LLC raised its position in shares of Teva Pharmaceutical Industries by 24.6% during the first quarter. AQR Capital Management LLC now owns 23,955 shares of the company’s stock worth $368,000 after acquiring an additional 4,732 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Teva Pharmaceutical Industries by 4.5% in the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company’s stock valued at $616,000 after purchasing an additional 1,739 shares during the last quarter. Swedbank AB grew its position in shares of Teva Pharmaceutical Industries by 1.1% during the 2nd quarter. Swedbank AB now owns 110,653 shares of the company’s stock worth $1,855,000 after buying an additional 1,244 shares during the period. IFM Investors Pty Ltd grew its position in shares of Teva Pharmaceutical Industries by 9.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 226,534 shares of the company’s stock worth $3,797,000 after buying an additional 19,447 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Teva Pharmaceutical Industries by 65.9% during the second quarter. GAMMA Investing LLC now owns 7,282 shares of the company’s stock worth $122,000 after buying an additional 2,892 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

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.