Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up – Still a Buy?

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.87, but opened at $15.33. Teva Pharmaceutical Industries shares last traded at $15.37, with a volume of 1,628,099 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TEVA. UBS Group reduced their price target on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Barclays decreased their target price on 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. Piper Sandler raised their price target 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. StockNews.com raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Finally, Bank of America decreased their target price on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.43.

Teva Pharmaceutical Industries Price Performance

The firm has a market cap of $16.84 billion, a P/E ratio of -10.24, a PEG ratio of 1.44 and a beta of 0.72. The stock’s 50-day simple moving average is $15.23 and its two-hundred day simple moving average is $17.56. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. Equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds have recently modified their holdings of TEVA. WCM Investment Management LLC increased its position in shares of Teva Pharmaceutical Industries by 57.0% in the first quarter. WCM Investment Management LLC now owns 213,157 shares of the company’s stock valued at $3,214,000 after buying an additional 77,403 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Teva Pharmaceutical Industries by 23.4% during the first quarter. DAVENPORT & Co LLC now owns 470,828 shares of the company’s stock valued at $7,237,000 after purchasing an additional 89,340 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Teva Pharmaceutical Industries by 11.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 117,256 shares of the company’s stock valued at $1,802,000 after purchasing an additional 11,912 shares during the period. KBC Group NV increased its stake in shares of Teva Pharmaceutical Industries by 26.2% during the first quarter. KBC Group NV now owns 46,916 shares of the company’s stock worth $721,000 after purchasing an additional 9,753 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Teva Pharmaceutical Industries by 5.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,504,007 shares of the company’s stock worth $38,487,000 after purchasing an additional 134,705 shares during the last quarter. Hedge funds and other 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.