Bank of America upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from an underperform rating to a buy rating in a report issued on Thursday, January 3rd, MarketBeat Ratings reports. Bank of America currently has $16.12 price objective on the stock.
Other equities research analysts have also recently issued research reports about the company. Mizuho boosted their target price on Teva Pharmaceutical Industries from $28.00 to $29.00 and gave the stock a buy rating in a report on Monday, September 17th. Zacks Investment Research raised Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $24.00 price target on the stock in a report on Monday, December 3rd. Goldman Sachs Group upgraded shares of Teva Pharmaceutical Industries from a buy rating to a conviction-buy rating and set a $30.00 price objective on the stock in a research report on Monday, October 1st. Oppenheimer reiterated a hold rating on shares of Teva Pharmaceutical Industries in a research report on Thursday, September 20th. Finally, Credit Suisse Group set a $26.00 price target on shares of Teva Pharmaceutical Industries and gave the company a hold rating in a report on Sunday, October 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Teva Pharmaceutical Industries currently has a consensus rating of Hold and a consensus price target of $22.15.
Shares of TEVA stock opened at $18.45 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.94 and a quick ratio of 0.61. Teva Pharmaceutical Industries has a 52 week low of $14.59 and a 52 week high of $25.96. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 4.69, a P/E/G ratio of 5.71 and a beta of 1.10.
Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.11. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.54 billion. Teva Pharmaceutical Industries had a positive return on equity of 21.83% and a negative net margin of 54.67%. The business’s revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, analysts predict that Teva Pharmaceutical Industries will post 2.82 earnings per share for the current fiscal year.
In other Teva Pharmaceutical Industries news, VP Hafrun Fridriksdottir sold 1,643 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $15.70, for a total transaction of $25,795.10. Following the sale, the vice president now directly owns 13,469 shares of the company’s stock, valued at $211,463.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,922 shares of company stock worth $53,962 over the last ninety days. Insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its holdings in Teva Pharmaceutical Industries by 8.8% in the third quarter. Rehmann Capital Advisory Group now owns 9,814 shares of the company’s stock valued at $211,000 after buying an additional 795 shares during the period. Daiwa Securities Group Inc. raised its holdings in Teva Pharmaceutical Industries by 7.3% in the third quarter. Daiwa Securities Group Inc. now owns 34,183 shares of the company’s stock worth $736,000 after purchasing an additional 2,329 shares during the period. Bridgewater Associates LP raised its holdings in Teva Pharmaceutical Industries by 11.3% in the third quarter. Bridgewater Associates LP now owns 23,600 shares of the company’s stock worth $508,000 after purchasing an additional 2,400 shares during the period. HPM Partners LLC raised its holdings in shares of Teva Pharmaceutical Industries by 25.4% during the second quarter. HPM Partners LLC now owns 14,657 shares of the company’s stock worth $356,000 after acquiring an additional 2,971 shares during the period. Finally, Virginia Retirement Systems ET AL raised its holdings in shares of Teva Pharmaceutical Industries by 6.7% during the third quarter. Virginia Retirement Systems ET AL now owns 55,600 shares of the company’s stock worth $1,198,000 after acquiring an additional 3,500 shares during the period. 61.66% of the stock is currently owned by institutional investors and hedge funds.
About Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.
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