Teva Pharmaceutical Industries (NYSE:TEVA) Rating Lowered to Buy at Wall Street Zen

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other brokerages have also issued reports on TEVA. Barclays started coverage on shares of Teva Pharmaceutical Industries in a research report on Tuesday, December 9th. They set an “overweight” rating and a $35.00 target price on the stock. Bank of America raised their price objective on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. upped their target price on Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Jefferies Financial Group raised their price target on Teva Pharmaceutical Industries from $29.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.67.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $31.78 on Friday. The firm has a market cap of $36.45 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. Teva Pharmaceutical Industries has a 12-month low of $12.47 and a 12-month high of $33.42. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The company’s 50-day moving average is $29.15 and its two-hundred day moving average is $22.25.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, VP Richard Daniell sold 115,468 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total value of $3,311,622.24. Following the transaction, the vice president directly owned 48,384 shares of the company’s stock, valued at $1,387,653.12. This trade represents a 70.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Sabag sold 216,892 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total value of $6,231,307.16. Following the completion of the sale, the insider owned 52,828 shares of the company’s stock, valued at approximately $1,517,748.44. This trade represents a 80.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 622,060 shares of company stock valued at $17,076,965 in the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds and other institutional investors have recently modified their holdings of TEVA. Wealth Enhancement Advisory Services LLC grew its position in Teva Pharmaceutical Industries by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,911 shares of the company’s stock valued at $382,000 after buying an additional 379 shares in the last quarter. Howard Bailey Securities LLC lifted its stake in shares of Teva Pharmaceutical Industries by 3.5% in the 3rd quarter. Howard Bailey Securities LLC now owns 14,451 shares of the company’s stock worth $292,000 after acquiring an additional 494 shares during the period. ASR Vermogensbeheer N.V. lifted its stake in shares of Teva Pharmaceutical Industries by 1.6% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 31,915 shares of the company’s stock worth $645,000 after acquiring an additional 515 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 15.5% in the third quarter. CIBC Private Wealth Group LLC now owns 4,020 shares of the company’s stock valued at $81,000 after acquiring an additional 540 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. increased its stake in shares of Teva Pharmaceutical Industries by 1.8% during the third quarter. Retirement Planning Co of New England Inc. now owns 33,230 shares of the company’s stock valued at $671,000 after acquiring an additional 588 shares during the period. Institutional investors own 54.05% of the company’s stock.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.