Bank of America Cuts Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $20.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective lowered by equities research analysts at Bank of America from $23.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 28.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays lowered their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. UBS Group reduced their price target on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.43.

Teva Pharmaceutical Industries Trading Down 2.1 %

TEVA stock traded down $0.34 during midday trading on Thursday, hitting $15.57. 1,778,051 shares of the company’s stock were exchanged, compared to its average volume of 12,476,969. Teva Pharmaceutical Industries has a one year low of $12.51 and a one year high of $22.80. 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 market cap of $17.65 billion, a PE ratio of -10.76, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The stock’s fifty day moving average price is $19.15 and its 200-day moving average price is $18.42.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Teva Pharmaceutical Industries will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Roberto Mignone sold 286,000 shares of Teva Pharmaceutical Industries 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 completion of the transaction, the director now owns 695,000 shares of the company’s stock, valued at $15,296,950. This trade represents a 29.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds have recently bought and sold shares of TEVA. Diversify Advisory Services LLC boosted its stake in shares of Teva Pharmaceutical Industries by 2.5% during the 4th quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock worth $426,000 after acquiring an additional 496 shares during the period. Sanctuary Advisors LLC boosted its position in Teva Pharmaceutical Industries by 1.9% during the third quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company’s stock worth $601,000 after purchasing an additional 664 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Teva Pharmaceutical Industries by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company’s stock valued at $4,964,000 after purchasing an additional 699 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Teva Pharmaceutical Industries by 2.1% in the fourth quarter. Townsquare Capital LLC now owns 40,162 shares of the company’s stock valued at $885,000 after purchasing an additional 812 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of Teva Pharmaceutical Industries by 6.7% during the 4th quarter. Metis Global Partners LLC now owns 13,697 shares of the company’s stock worth $302,000 after buying an additional 860 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.