StockNews.com Downgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

A number of other research firms also recently weighed in on TEVA. Barclays lifted their price target on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. UBS Group lifted their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $17.48 on Thursday. The stock has a 50 day simple moving average of $17.83 and a 200 day simple moving average of $16.35. The stock has a market cap of $19.80 billion, a P/E ratio of -42.63, a PEG ratio of 1.21 and a beta of 0.88. Teva Pharmaceutical Industries has a 1-year low of $8.06 and a 1-year high of $19.08. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its 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 during the quarter, compared to the consensus estimate of $3.99 billion. Research analysts anticipate that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Eric A. Hughes sold 24,537 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the sale, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in Teva Pharmaceutical Industries during the 1st quarter worth $28,000. EntryPoint Capital LLC bought a new position in shares of Teva Pharmaceutical Industries during the first quarter worth about $30,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Teva Pharmaceutical Industries in the second quarter worth approximately $48,000. Byrne Asset Management LLC bought a new stake in Teva Pharmaceutical Industries in the second quarter valued at approximately $52,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Teva Pharmaceutical Industries during the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds 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.