Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Cut to $20.00 by Analysts at Bank of America

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective reduced by Bank of America from $23.00 to $20.00 in a report issued on Thursday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also commented on TEVA. UBS Group decreased their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Barclays lowered their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $15.32 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries has a 12-month low of $12.51 and a 12-month high of $22.80. The stock’s 50 day moving average price is $19.00 and its two-hundred day moving average price is $18.40. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of -10.57, a P/E/G ratio of 1.44 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. On average, analysts anticipate that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current year.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 695,000 shares of the company’s stock, valued at $15,296,950. The trade was a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 49.5% during the 3rd quarter. FMR LLC now owns 62,740,763 shares of the company’s stock worth $1,130,589,000 after acquiring an additional 20,762,226 shares during the period. Duquesne Family Office LLC raised its position in Teva Pharmaceutical Industries by 530.1% during the fourth quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company’s stock valued at $198,303,000 after purchasing an additional 7,569,450 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Teva Pharmaceutical Industries by 7,945.2% during the third quarter. Janus Henderson Group PLC now owns 4,791,937 shares of the company’s stock worth $86,350,000 after purchasing an additional 4,732,374 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Teva Pharmaceutical Industries by 12.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company’s stock valued at $859,935,000 after purchasing an additional 4,418,961 shares in the last quarter. Finally, Todd Asset Management LLC bought a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at $58,243,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.