Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up – Here’s Why

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.25, but opened at $17.15. Teva Pharmaceutical Industries shares last traded at $16.96, with a volume of 3,659,756 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Barclays lowered their target price on shares of 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. UBS Group cut their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective 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. Finally, Piper Sandler lifted their price objective 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.57.

Teva Pharmaceutical Industries Stock Up 1.8 %

The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.61 and a current ratio of 0.98. The stock’s 50 day moving average price is $19.93 and its 200-day moving average price is $18.50. The company has a market cap of $18.74 billion, a PE ratio of -11.41, a PEG ratio of 1.39 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results 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 42.46% and a negative net margin of 9.91%. On average, analysts predict that Teva Pharmaceutical Industries Limited will post 2.62 earnings per share for the current year.

Insider Activity

In related news, Director Roberto Mignone sold 286,000 shares of Teva Pharmaceutical Industries stock in a transaction 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 transaction, the director now directly owns 695,000 shares in the company, valued at approximately $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 accessible through the SEC website. Also, EVP Christine Fox sold 19,388 shares of the stock in a transaction on Wednesday, November 20th. The stock was 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 directly owns 44,104 shares of the company’s stock, valued at approximately $744,034.48. This trade represents a 30.54 % 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEVA. Diversify Advisory Services LLC increased its stake in Teva Pharmaceutical Industries by 2.5% in the fourth quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock worth $426,000 after purchasing an additional 496 shares during the period. Sanctuary Advisors LLC increased its position in shares of Teva Pharmaceutical Industries by 1.9% during the third quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company’s stock worth $601,000 after purchasing an additional 664 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Teva Pharmaceutical Industries by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company’s stock valued at $4,964,000 after buying an additional 699 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Teva Pharmaceutical Industries by 0.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 112,380 shares of the company’s stock valued at $2,025,000 after purchasing an additional 805 shares during the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of Teva Pharmaceutical Industries by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 40,162 shares of the company’s stock worth $885,000 after buying an additional 812 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

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.