Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up to $15.81

Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $15.81, but opened at $16.20. Teva Pharmaceutical Industries shares last traded at $16.13, with a volume of 1,843,009 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEVA shares. Barclays increased their price target on shares of Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Argus raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday. Bank of America raised their price target on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, May 20th. Finally, Jefferies Financial Group raised their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

Read Our Latest Stock Report on TEVA

Teva Pharmaceutical Industries Stock Performance

The company has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $14.01. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of -38.54, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.89 and a quick ratio of 0.61.

Teva Pharmaceutical Industries (NYSE:TEVAGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.70 billion. Teva Pharmaceutical Industries had a negative net margin of 2.88% and a positive return on equity of 37.33%. As a group, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 519,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the sale, the director now directly owns 981,000 shares of the company’s stock, valued at approximately $16,706,430. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Vikki L. Conway sold 15,219 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $16.74, for a total transaction of $254,766.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roberto Mignone sold 519,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the sale, the director now owns 981,000 shares of the company’s stock, valued at approximately $16,706,430. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 549,719 shares of company stock worth $9,353,736. 0.55% of the stock is owned by insiders.

Institutional Trading of Teva Pharmaceutical Industries

Large investors have recently added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA acquired a new position in Teva Pharmaceutical Industries during the second quarter valued at $48,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Teva Pharmaceutical Industries during the 2nd quarter valued at about $153,000. DNB Asset Management AS increased its holdings in shares of Teva Pharmaceutical Industries by 9.6% in the 2nd quarter. DNB Asset Management AS now owns 160,302 shares of the company’s stock valued at $2,605,000 after purchasing an additional 14,001 shares during the period. GAMMA Investing LLC lifted its position in shares of Teva Pharmaceutical Industries by 105.7% in the second quarter. GAMMA Investing LLC now owns 3,388 shares of the company’s stock worth $55,000 after purchasing an additional 1,741 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Teva Pharmaceutical Industries by 6.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 72,127 shares of the company’s stock worth $1,036,000 after purchasing an additional 4,131 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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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.

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