Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 52-Week High – What’s Next?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.83 and last traded at $37.82, with a volume of 1042924 shares changing hands. The stock had previously closed at $36.93.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TEVA shares. Weiss Ratings upgraded shares of Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Barclays upped their target price on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. UBS Group lifted their price target on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Teva Pharmaceutical Industries Trading Down 0.3%

The firm has a market cap of $44.25 billion, a P/E ratio of 63.28, a P/E/G ratio of 4.09 and a beta of 0.86. The stock has a 50 day simple moving average of $34.09 and a 200-day simple moving average of $33.16. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion during the quarter. On average, equities research analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of Teva Pharmaceutical Industries stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total value of $3,633,798.30. Following the completion of the transaction, the executive vice president directly owned 65,621 shares of the company’s stock, valued at $2,237,676.10. This trade represents a 61.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in Teva Pharmaceutical Industries by 3,376.3% during the 2nd quarter. California State Teachers Retirement System now owns 43,270,486 shares of the company’s stock valued at $1,466,004,000 after buying an additional 42,025,742 shares during the period. Norges Bank purchased a new position in Teva Pharmaceutical Industries during the fourth quarter worth $1,098,060,000. WCM Investment Management LLC boosted its stake in Teva Pharmaceutical Industries by 191.4% during the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock worth $1,157,264,000 after buying an additional 26,813,522 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock valued at $1,402,945,000 after acquiring an additional 7,255,083 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Teva Pharmaceutical Industries by 39,228.4% during the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after acquiring an additional 6,878,304 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.