Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 1-Year High – Here’s Why

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.04 and last traded at $26.9450, with a volume of 938074 shares trading hands. The stock had previously closed at $26.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEVA shares. Wall Street Zen raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. JPMorgan Chase & Co. upped their price objective on Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Finally, UBS Group upped their target price on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $25.86.

Teva Pharmaceutical Industries Stock Performance

The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. The company has a 50-day moving average price of $21.76 and a two-hundred day moving average price of $18.89. The stock has a market capitalization of $30.67 billion, a P/E ratio of -167.22, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70.

Insider Activity

In related news, Director Roberto Mignone sold 200,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $24.11, for a total transaction of $4,822,000.00. Following the transaction, the director owned 495,000 shares in the company, valued at $11,934,450. The trade was a 28.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently made changes to their positions in TEVA. Bourgeon Capital Management LLC boosted its stake in shares of Teva Pharmaceutical Industries by 100.7% in the 2nd quarter. Bourgeon Capital Management LLC now owns 723,974 shares of the company’s stock worth $12,134,000 after buying an additional 363,252 shares during the last quarter. Amundi grew its stake in Teva Pharmaceutical Industries by 18.5% in the 1st quarter. Amundi now owns 678,758 shares of the company’s stock valued at $10,080,000 after purchasing an additional 105,846 shares during the period. IFM Investors Pty Ltd increased its position in shares of Teva Pharmaceutical Industries by 9.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 226,534 shares of the company’s stock valued at $3,797,000 after purchasing an additional 19,447 shares during the last quarter. Jump Financial LLC raised its stake in shares of Teva Pharmaceutical Industries by 172.1% during the 1st quarter. Jump Financial LLC now owns 1,325,526 shares of the company’s stock worth $20,373,000 after purchasing an additional 838,423 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Teva Pharmaceutical Industries by 5.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 719,676 shares of the company’s stock worth $12,062,000 after buying an additional 37,455 shares during the last quarter. Institutional investors 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.