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

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares fell 4.6% during mid-day trading on Thursday after Barclays lowered their price target on the stock from $28.00 to $26.00. Barclays currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as low as $17.62 and last traded at $17.69. 18,918,568 shares changed hands during mid-day trading, an increase of 58% from the average session volume of 11,937,447 shares. The stock had previously closed at $18.54.

Several other brokerages also recently issued reports on TEVA. Piper Sandler increased their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. UBS Group boosted their price target on Teva Pharmaceutical Industries from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $22.01, for a total value 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 represents a 29.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christine Fox sold 19,388 shares of the company’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 value of $327,075.56. Following the completion of the sale, the executive vice president now owns 44,104 shares in the company, valued at $744,034.48. This represents a 30.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Teva Pharmaceutical Industries by 49.5% in the third quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after acquiring an additional 20,762,226 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Teva Pharmaceutical Industries by 237.5% in the third 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 buying an additional 2,376,668 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Teva Pharmaceutical Industries by 6.8% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock valued at $621,337,000 after buying an additional 2,204,623 shares during the period. Finally, State Street Corp grew its position in Teva Pharmaceutical Industries by 10.0% during the third quarter. State Street Corp now owns 19,500,683 shares of the company’s stock worth $351,402,000 after buying an additional 1,778,268 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

The stock has a market cap of $20.04 billion, a P/E ratio of -20.81, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The stock has a 50 day simple moving average of $19.97 and a 200 day simple moving average of $18.48.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 42.92%. On average, equities analysts expect 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.