Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) from a hold rating to a buy rating in a report published on Friday morning.

Several other analysts have also issued reports on TEVA. Piper Sandler lowered shares of Teva Pharmaceutical Industries from a neutral rating to an underweight rating and dropped their price target for the stock from $11.00 to $7.00 in a research report on Wednesday, May 4th. Sanford C. Bernstein upgraded shares of Teva Pharmaceutical Industries from a market perform rating to an outperform rating and set a $11.00 target price for the company in a research note on Friday, March 25th. UBS Group assumed coverage on Teva Pharmaceutical Industries in a report on Monday, June 13th. They set a neutral rating and a $10.00 price target for the company. Bank of America upgraded Teva Pharmaceutical Industries from an underperform rating to a neutral rating and set a $9.00 price objective on the stock in a research note on Tuesday, May 17th. Finally, Barclays upgraded Teva Pharmaceutical Industries from an equal weight rating to an overweight rating and lifted their target price for the stock from $11.00 to $13.00 in a research note on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries currently has an average rating of Hold and an average target price of $10.71.

Shares of Teva Pharmaceutical Industries stock opened at $7.71 on Friday. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of -14.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.17. The stock’s 50-day moving average is $8.80 and its 200-day moving average is $8.54. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.07 and a quick ratio of 0.73. Teva Pharmaceutical Industries has a one year low of $7.23 and a one year high of $10.50.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Teva Pharmaceutical Industries had a positive return on equity of 24.04% and a negative net margin of 3.95%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. On average, equities analysts expect that Teva Pharmaceutical Industries will post 2.39 EPS for the current year.

In related news, VP Hafrun Fridriksdottir sold 130,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $8.22, for a total value of $1,068,600.00. Following the transaction, the vice president now directly owns 1,387 shares in the company, valued at $11,401.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter valued at $393,000. Quantbot Technologies LP acquired a new stake in Teva Pharmaceutical Industries during the first quarter worth about $110,000. Royal Bank of Canada grew its stake in Teva Pharmaceutical Industries by 21.6% during the first quarter. Royal Bank of Canada now owns 944,421 shares of the company’s stock worth $8,868,000 after buying an additional 167,556 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Teva Pharmaceutical Industries by 18.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 71,982 shares of the company’s stock valued at $675,000 after buying an additional 11,044 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Teva Pharmaceutical Industries by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 1,225,575 shares of the company’s stock valued at $11,508,000 after buying an additional 14,277 shares in the last quarter. Institutional investors own 45.79% of the company’s stock.

About Teva Pharmaceutical Industries (Get Rating)

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. The company offers sterile products, hormones, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams.

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