Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $48.00 at UBS Group

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target lifted by research analysts at UBS Group from $42.00 to $48.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 31.62% from the company’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler boosted their price target on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Wall Street Zen cut Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings raised Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Barclays increased their price objective on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries has an average rating of “Moderate Buy” and a consensus target price of $42.89.

Teva Pharmaceutical Industries Stock Down 0.4%

TEVA traded down $0.15 on Friday, hitting $36.47. The company had a trading volume of 1,320,011 shares, compared to its average volume of 6,959,974. Teva Pharmaceutical Industries has a 52-week low of $18.21 and a 52-week high of $38.37. The stock has a fifty day simple moving average of $34.58 and a 200-day simple moving average of $33.26. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of $42.50 billion, a P/E ratio of 60.76, a P/E/G ratio of 4.94 and a beta of 0.87.

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

Insider Buying and Selling

In related news, EVP Eliyahu 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 sale, the executive vice president owned 65,621 shares of the company’s stock, valued at approximately $2,237,676.10. This trade represents a 61.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in shares of Teva Pharmaceutical Industries by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,608,387 shares of the company’s stock valued at $112,618,000 after acquiring an additional 228,189 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Teva Pharmaceutical Industries by 8.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,082,578 shares of the company’s stock worth $33,506,000 after purchasing an additional 80,106 shares during the period. Norges Bank acquired a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter valued at approximately $1,098,060,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Teva Pharmaceutical Industries in the first quarter valued at approximately $9,126,000. Finally, TD Asset Management Inc grew its holdings in Teva Pharmaceutical Industries by 47.1% during the fourth quarter. TD Asset Management Inc now owns 369,023 shares of the company’s stock worth $11,517,000 after acquiring an additional 118,075 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

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.