Teva Pharmaceutical Industries (NYSE:TEVA) Shares Down 4.6% After Analyst Downgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares were down 4.6% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a buy rating on the stock. Teva Pharmaceutical Industries traded as low as $17.62 and last traded at $17.69. Approximately 18,918,568 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 11,937,447 shares. The stock had previously closed at $18.54.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Barclays dropped their price target on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Christine Fox sold 19,388 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.87, for a total value of $327,075.56. Following the completion of the sale, the executive vice president now directly owns 44,104 shares of the company’s stock, valued at $744,034.48. This trade represents a 30.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roberto Mignone sold 286,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $22.01, for a total value of $6,294,860.00. Following the completion of the sale, the director now directly owns 695,000 shares of the company’s stock, valued at $15,296,950. This represents a 29.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Large investors have recently made changes to their positions in the stock. Diversify Advisory Services LLC raised its position in Teva Pharmaceutical Industries by 2.5% during the fourth quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock valued at $426,000 after purchasing an additional 496 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Teva Pharmaceutical Industries by 1.9% in the third quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company’s stock worth $601,000 after buying an additional 664 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Teva Pharmaceutical Industries by 0.7% in the third quarter. Sequoia Financial Advisors LLC now owns 112,380 shares of the company’s stock worth $2,025,000 after buying an additional 805 shares during the period. DGS Capital Management LLC increased its holdings in shares of Teva Pharmaceutical Industries by 6.8% in the third quarter. DGS Capital Management LLC now owns 13,627 shares of the company’s stock worth $246,000 after buying an additional 872 shares during the period. Finally, Smithfield Trust Co increased its holdings in shares of Teva Pharmaceutical Industries by 55.7% in the third quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock worth $50,000 after buying an additional 980 shares during the period. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

The stock has a market cap of $20.17 billion, a PE ratio of -12.28, a P/E/G ratio of 0.97 and a beta of 0.73. The company has a fifty day moving average price of $20.00 and a 200 day moving average price of $18.48. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.57.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 40.20% and a negative net margin of 9.91%. Analysts expect that Teva Pharmaceutical Industries Limited will post 2.62 earnings per share for the current year.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.