Teva Pharmaceutical Industries (NYSE:TEVA) Trading 2.5% Higher – Here’s What Happened

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) rose 2.5% during mid-day trading on Monday . The stock traded as high as $15.48 and last traded at $15.46. Approximately 5,546,124 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 9,641,032 shares. The stock had previously closed at $15.08.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TEVA shares. Bank of America decreased their price objective on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. StockNews.com cut shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Piper Sandler raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Barclays dropped their price target on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, UBS Group reduced their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.43.

Teva Pharmaceutical Industries Price Performance

The firm has a market cap of $17.35 billion, a PE ratio of -10.55, a P/E/G ratio of 1.44 and a beta of 0.82. The stock’s fifty day moving average price is $16.95 and its 200-day moving average price is $18.08. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. As a group, equities analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current fiscal year.

Institutional Trading of Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Stifel Financial Corp lifted its stake in Teva Pharmaceutical Industries by 54.0% in the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock valued at $1,196,000 after buying an additional 23,283 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Teva Pharmaceutical Industries by 7.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock valued at $10,983,000 after acquiring an additional 33,277 shares in the last quarter. Pinnbrook Capital Management LP acquired a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter valued at $4,966,000. Asset Management One Co. Ltd. increased its position in Teva Pharmaceutical Industries by 14.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company’s stock worth $10,414,000 after purchasing an additional 58,413 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Teva Pharmaceutical Industries in the 4th quarter valued at about $3,340,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.

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.