Teva Pharmaceutical Industries (NYSE:TEVA) Shares Up 9.5%

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Teva Pharmaceutical Industries Ltd (NYSE:TEVA)’s share price shot up 9.5% during trading on Tuesday . The company traded as high as $10.10 and last traded at $10.04, 29,962,326 shares changed hands during mid-day trading. An increase of 97% from the average session volume of 15,214,859 shares. The stock had previously closed at $9.17.

Several equities analysts have recently weighed in on TEVA shares. Gabelli raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. ValuEngine downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 3rd. Bank of America raised shares of Teva Pharmaceutical Industries from an “underperform” rating to a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from an “underweight” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Co cut their price objective on shares of Teva Pharmaceutical Industries from $17.00 to $8.00 and set a “market perform” rating on the stock in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.64.

The stock’s 50 day moving average price is $9.76 and its 200-day moving average price is $8.40. The company has a quick ratio of 0.56, a current ratio of 0.89 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $10.32 billion, a PE ratio of 3.59, a price-to-earnings-growth ratio of 0.90 and a beta of 1.81.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.02). Teva Pharmaceutical Industries had a positive return on equity of 15.41% and a negative net margin of 22.88%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.25 billion. As a group, sell-side analysts predict that Teva Pharmaceutical Industries Ltd will post 2.26 earnings per share for the current fiscal year.

In other news, VP Hafrun Fridriksdottir sold 4,310 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.49, for a total transaction of $45,211.90. Following the transaction, the vice president now directly owns 24,883 shares of the company’s stock, valued at $261,022.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.

Hedge funds have recently modified their holdings of the business. CAPROCK Group Inc. boosted its stake in shares of Teva Pharmaceutical Industries by 6.2% during the third quarter. CAPROCK Group Inc. now owns 23,730 shares of the company’s stock valued at $163,000 after purchasing an additional 1,378 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Teva Pharmaceutical Industries by 71.3% in the third quarter. AdvisorNet Financial Inc now owns 3,665 shares of the company’s stock valued at $25,000 after buying an additional 1,525 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Teva Pharmaceutical Industries by 50.9% in the third quarter. Pacer Advisors Inc. now owns 5,219 shares of the company’s stock worth $36,000 after acquiring an additional 1,760 shares in the last quarter. Usca Ria LLC boosted its holdings in Teva Pharmaceutical Industries by 1.3% in the third quarter. Usca Ria LLC now owns 144,743 shares of the company’s stock worth $996,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Teva Pharmaceutical Industries by 76.6% during the third quarter. Lindbrook Capital LLC now owns 4,461 shares of the company’s stock worth $31,000 after acquiring an additional 1,935 shares during the last quarter. Institutional investors and hedge funds own 53.38% of the company’s stock.

About Teva Pharmaceutical Industries (NYSE:TEVA)

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.

Further Reading: Are sell-side analysts objective?

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