Teva Pharmaceutical Industries (NYSE:TEVA) Trading Down 4.6% on Analyst Downgrade

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share price traded 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. 18,918,568 shares traded hands during trading, an increase of 58% from the average session volume of 11,937,447 shares. The stock had previously closed at $18.54.

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

Insider Transactions at Teva Pharmaceutical Industries

In other news, EVP Christine Fox sold 19,388 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total transaction of $327,075.56. Following the completion of the sale, the executive vice president now owns 44,104 shares of the company’s stock, valued at $744,034.48. This trade represents a 30.54 % decrease in their position. The sale 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 that occurred on Friday, December 20th. The stock was sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the sale, the director now directly owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This trade represents a 29.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Trading of Teva Pharmaceutical Industries

Several hedge funds have recently bought and sold shares of TEVA. FMR LLC grew its position in Teva Pharmaceutical Industries by 49.5% in the 3rd quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after purchasing an additional 20,762,226 shares during the period. Janus Henderson Group PLC grew its position in Teva Pharmaceutical Industries by 7,945.2% in the 3rd quarter. Janus Henderson Group PLC now owns 4,791,937 shares of the company’s stock valued at $86,350,000 after purchasing an additional 4,732,374 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Teva Pharmaceutical Industries by 237.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,377,517 shares of the company’s stock valued at $60,863,000 after purchasing an additional 2,376,668 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in Teva Pharmaceutical Industries by 6.8% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock valued at $621,337,000 after purchasing an additional 2,204,623 shares during the period. Finally, State Street Corp grew its position in Teva Pharmaceutical Industries by 10.0% in the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company’s stock valued at $351,402,000 after purchasing an additional 1,778,268 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Trading Down 3.6 %

The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $18.48. The firm has a market capitalization of $20.25 billion, a P/E ratio of -21.03, a PEG ratio of 1.11 and a beta of 0.73.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.92% and a negative net margin of 5.73%. Equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.37 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.