Teva Pharmaceutical Industries (NYSE:TEVA) Sets New 12-Month High – What’s Next?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares reached a new 52-week high on Wednesday . The company traded as high as $37.79 and last traded at $37.7670, with a volume of 1340480 shares traded. The stock had previously closed at $36.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TEVA shares. Barclays upped their price target on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Truist Financial lifted their price target on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Teva Pharmaceutical Industries Trading Up 1.6%

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market capitalization of $43.30 billion, a price-to-earnings ratio of 61.96, a price-to-earnings-growth ratio of 3.93 and a beta of 0.86. The firm has a fifty day moving average price of $33.64 and a 200-day moving average price of $33.05.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. The business had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. As a group, equities analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the sale, the executive vice president owned 65,621 shares of the company’s stock, valued at approximately $2,237,676.10. This represents a 61.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEVA. AQR Capital Management LLC lifted its position in shares of Teva Pharmaceutical Industries by 24.6% during the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company’s stock worth $368,000 after buying an additional 4,732 shares during the last quarter. Focus Partners Wealth raised its stake in Teva Pharmaceutical Industries by 4.5% during the first quarter. Focus Partners Wealth now owns 40,074 shares of the company’s stock worth $616,000 after acquiring an additional 1,739 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Teva Pharmaceutical Industries in the second quarter worth about $255,000. Flow Traders U.S. LLC bought a new position in shares of Teva Pharmaceutical Industries in the second quarter worth about $238,000. Finally, Cerity Partners LLC boosted its stake in shares of Teva Pharmaceutical Industries by 2.9% in the 2nd quarter. Cerity Partners LLC now owns 45,837 shares of the company’s stock valued at $768,000 after purchasing an additional 1,291 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors.

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.