Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 52-Week High on Strong Earnings

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $19.20 and last traded at $19.13, with a volume of 246957 shares changing hands. The stock had previously closed at $18.77.

The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.08 billion. Teva Pharmaceutical Industries had a positive return on equity of 41.43% and a negative net margin of 5.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEVA shares. Barclays boosted their target price on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently made changes to their positions in TEVA. Maple Rock Capital Partners Inc. boosted its holdings in Teva Pharmaceutical Industries by 68.3% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock valued at $61,568,000 after purchasing an additional 1,770,000 shares during the period. National Pension Service increased its holdings in Teva Pharmaceutical Industries by 107.3% in the 3rd quarter. National Pension Service now owns 3,170,640 shares of the company’s stock valued at $57,135,000 after buying an additional 1,640,940 shares during the period. Iron Triangle Partners LP increased its stake in Teva Pharmaceutical Industries by 113.1% in the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after acquiring an additional 1,469,864 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Teva Pharmaceutical Industries during the second quarter valued at approximately $23,115,000. Finally, Davidson Kempner Capital Management LP lifted its stake in Teva Pharmaceutical Industries by 152.5% during the second quarter. Davidson Kempner Capital Management LP now owns 1,765,485 shares of the company’s stock worth $28,689,000 after purchasing an additional 1,066,150 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 2.52. The stock has a fifty day simple moving average of $17.98 and a two-hundred day simple moving average of $17.07.

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.