JPMorgan Chase & Co. Boosts Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $18.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective raised by JPMorgan Chase & Co. from $16.00 to $18.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also issued reports on TEVA. StockNews.com raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their target price on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Barclays upped their price target on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. UBS Group boosted their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA opened at $18.41 on Monday. Teva Pharmaceutical Industries has a 1 year low of $8.07 and a 1 year high of $19.08. The company’s 50 day simple moving average is $18.02 and its 200 day simple moving average is $16.72. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of -47.19, a PEG ratio of 1.29 and a beta of 0.88. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $3.99 billion. On average, sell-side analysts predict that Teva Pharmaceutical Industries will post 2.33 EPS for the current year.

Insider Activity at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the completion of the sale, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently bought and sold shares of TEVA. Renaissance Technologies LLC boosted its stake in shares of Teva Pharmaceutical Industries by 13.4% in the second quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company’s stock valued at $141,839,000 after purchasing an additional 1,031,400 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Teva Pharmaceutical Industries by 68.3% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock valued at $61,568,000 after buying an additional 1,770,000 shares during the last quarter. Truist Financial Corp boosted its position in Teva Pharmaceutical Industries by 7.0% in the 2nd quarter. Truist Financial Corp now owns 3,885,251 shares of the company’s stock valued at $63,135,000 after buying an additional 254,483 shares during the last quarter. Iron Triangle Partners LP grew its stake in shares of Teva Pharmaceutical Industries by 113.1% during the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after acquiring an additional 1,469,864 shares in the last quarter. Finally, Tri Locum Partners LP increased its position in shares of Teva Pharmaceutical Industries by 15.1% during the second quarter. Tri Locum Partners LP now owns 2,550,307 shares of the company’s stock worth $41,442,000 after acquiring an additional 334,119 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

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.