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.
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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