Teva Pharmaceutical Industries (NYSE:TEVA) Coverage Initiated by Analysts at TD Cowen

Investment analysts at TD Cowen assumed coverage on shares of Teva Pharmaceutical Industries (NYSE:TEVA) in a report released on Thursday, Briefing.com reports. The firm set a “buy” rating and a $55.00 price target on the stock. TD Cowen’s price target points to a potential upside of 38.74% from the company’s previous close.

A number of other brokerages have also recently commented on TEVA. UBS Group raised their target price on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, September 4th. Oppenheimer began coverage on shares of Teva Pharmaceutical Industries in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 target price for the company. Leerink Partners initiated coverage on shares of Teva Pharmaceutical Industries in a report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 target price for the company. Barclays raised their price target on Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Piper Sandler increased their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and an average target price of $44.67.

Teva Pharmaceutical Industries Trading Down 0.4%

Shares of NYSE:TEVA opened at $39.64 on Thursday. Teva Pharmaceutical Industries has a 52-week low of $18.83 and a 52-week high of $40.79. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 3.77 and a beta of 0.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The stock’s 50-day simple moving average is $36.70 and its two-hundred day simple moving average is $34.01.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The company had revenue of $4.14 billion during the quarter. Analysts expect that Teva Pharmaceutical Industries will post 1.95 EPS for the current year.

Insiders Place Their Bets

In related news, Director Roberto Mignone sold 367,600 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $39.06, for a total value of $14,358,456.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Savage sold 7,342 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $38.85, for a total transaction of $285,236.70. Following the transaction, the insider owned 8,500 shares of the company’s stock, valued at $330,225. This trade represents a 46.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 374,959 shares of company stock valued at $14,644,285. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several large investors have recently modified their holdings of TEVA. QRG Capital Management Inc. raised its holdings in Teva Pharmaceutical Industries by 17.0% during the 2nd quarter. QRG Capital Management Inc. now owns 89,078 shares of the company’s stock valued at $3,018,000 after buying an additional 12,925 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Teva Pharmaceutical Industries by 7.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,311 shares of the company’s stock worth $248,000 after buying an additional 483 shares during the period. Bullseye Investment Management LLC purchased a new position in Teva Pharmaceutical Industries during the second quarter worth $68,000. Sequoia Financial Advisors LLC increased its position in Teva Pharmaceutical Industries by 12.5% during the second quarter. Sequoia Financial Advisors LLC now owns 190,940 shares of the company’s stock valued at $6,469,000 after acquiring an additional 21,240 shares during the last quarter. Finally, National Pension Service increased its position in Teva Pharmaceutical Industries by 4.9% during the second quarter. National Pension Service now owns 2,406,013 shares of the company’s stock valued at $81,516,000 after acquiring an additional 112,357 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company develops, manufactures and distributes generic medicines, specialty pharmaceuticals, active pharmaceutical ingredients and biosimilars.

Teva’s portfolio includes medicines for conditions affecting the central nervous system, respiratory system and other therapeutic areas. Its branded and specialty products include treatments such as Copaxone for multiple sclerosis, Austedo for movement disorders, Ajovy for migraine prevention and Uzedy for schizophrenia.