Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up – Should You Buy?

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share 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 traded.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Barclays reduced their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, UBS Group reduced their target price on 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.57.

Teva Pharmaceutical Industries Trading Down 0.8 %

The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The company has a 50 day moving average of $19.91 and a two-hundred day moving average of $18.49. The stock has a market cap of $19.28 billion, a PE ratio of -11.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $22.01, for a total value 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. This represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by insiders.

Institutional Trading of Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in Teva Pharmaceutical Industries by 30.7% in the fourth quarter. FMR LLC now owns 81,983,231 shares of the company’s stock valued at $1,806,910,000 after purchasing an additional 19,242,468 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in Teva Pharmaceutical Industries by 12.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company’s stock valued at $859,935,000 after purchasing an additional 4,418,961 shares during the period. Ion Asset Management Ltd. raised its position in Teva Pharmaceutical Industries by 1.1% in the fourth quarter. Ion Asset Management Ltd. now owns 36,650,000 shares of the company’s stock valued at $807,766,000 after purchasing an additional 409,778 shares during the period. Lingotto Investment Management LLP raised its position in Teva Pharmaceutical Industries by 2.6% in the fourth quarter. Lingotto Investment Management LLP now owns 27,192,388 shares of the company’s stock valued at $599,320,000 after purchasing an additional 688,862 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Teva Pharmaceutical Industries by 2.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,035,422 shares of the company’s stock valued at $573,822,000 after purchasing an additional 569,412 shares during the period. 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.