Teva Pharmaceutical Industries (NYSE:TEVA) Sees Large Decline in Short Interest

Teva Pharmaceutical Industries (NYSE:TEVA) was the recipient of a significant decrease in short interest in the month of March. As of March 29th, there was short interest totalling 59,397,239 shares, a decrease of 9.1% from the March 15th total of 65,322,254 shares. Based on an average daily volume of 10,761,075 shares, the days-to-cover ratio is currently 5.5 days. Currently, 5.9% of the shares of the stock are sold short.

Teva Pharmaceutical Industries stock opened at $17.56 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.86 and a debt-to-equity ratio of 1.91. The stock has a market cap of $18,120.75, a PE ratio of 4.47, a PEG ratio of 1.55 and a beta of 0.67. Teva Pharmaceutical Industries has a 1-year low of $10.85 and a 1-year high of $33.82.

How to Become a New Pot Stock Millionaire

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.14. Teva Pharmaceutical Industries had a negative net margin of 72.66% and a positive return on equity of 16.43%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the business posted $1.38 earnings per share. Teva Pharmaceutical Industries’s quarterly revenue was down 15.9% compared to the same quarter last year. sell-side analysts predict that Teva Pharmaceutical Industries will post 2.3 earnings per share for the current year.

A number of research analysts recently commented on the company. Cantor Fitzgerald set a $18.00 target price on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating and set a $21.73 target price on the stock. in a research note on Monday, March 12th. Bank of America reduced their target price on Teva Pharmaceutical Industries from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Friday, February 9th. Finally, Mizuho upgraded shares of Teva Pharmaceutical Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $19.12 to $23.00 in a research report on Tuesday, January 9th. Eleven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.82.

In other news, EVP Mark Sabag sold 5,050 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.68, for a total value of $99,384.00. Following the transaction, the executive vice president now owns 44,517 shares of the company’s stock, valued at $876,094.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 10,734 shares of company stock worth $204,795. Insiders own 7.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in Teva Pharmaceutical Industries by 8.2% in the fourth quarter. Franklin Resources Inc. now owns 79,488,139 shares of the company’s stock worth $1,506,309,000 after buying an additional 6,009,897 shares during the period. Two Sigma Advisers LP purchased a new stake in Teva Pharmaceutical Industries in the fourth quarter worth about $118,487,000. OppenheimerFunds Inc. purchased a new stake in Teva Pharmaceutical Industries in the fourth quarter worth about $69,418,000. Swiss National Bank lifted its holdings in Teva Pharmaceutical Industries by 0.9% in the fourth quarter. Swiss National Bank now owns 3,523,499 shares of the company’s stock worth $66,770,000 after buying an additional 32,000 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in Teva Pharmaceutical Industries by 66.5% in the fourth quarter. Teachers Advisors LLC now owns 3,221,405 shares of the company’s stock worth $61,046,000 after buying an additional 1,286,637 shares during the period. Institutional investors and hedge funds own 58.20% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Teva Pharmaceutical Industries (NYSE:TEVA) Sees Large Decline in Short Interest” was published by Week Herald and is owned by of Week Herald. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://weekherald.com/2018/04/25/teva-pharmaceutical-industries-ltd-teva-short-interest-down-9-1-in-march.html.

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.

Receive News & Ratings for Teva Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teva Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply