Teva Pharmaceutical Industries (NYSE:TEVA) Stock Gets Downgrade from Zacks Research

Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

Several other analysts have also commented on TEVA. TD Cowen started coverage on shares of Teva Pharmaceutical Industries in a research note on Thursday, October 1st. They set a “buy” rating and a $55.00 target price for the company. Leerink Partners started coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings upgraded shares of Teva Pharmaceutical Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Barclays upped their price target on Teva Pharmaceutical Industries from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, Piper Sandler increased their price objective on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.92.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock opened at $40.55 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $38.55 and its two-hundred day moving average price is $35.17. Teva Pharmaceutical Industries has a 52 week low of $18.83 and a 52 week high of $42.02. The stock has a market cap of $47.25 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.00 EPS for the current fiscal year.

Insider Activity

In other news, insider Brian Savage sold 7,342 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $38.85, for a total value of $285,236.70. Following the transaction, the insider directly owned 8,500 shares of the company’s stock, valued at approximately $330,225. This represents a 46.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roberto Mignone sold 367,600 shares of the company’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $39.06, for a total value of $14,358,456.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 374,959 shares of company stock valued at $14,644,285. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in Teva Pharmaceutical Industries in the third quarter worth $33,000. Magnus Financial Group LLC increased its position in Teva Pharmaceutical Industries by 4.1% during the third quarter. Magnus Financial Group LLC now owns 39,596 shares of the company’s stock worth $1,568,000 after buying an additional 1,562 shares during the last quarter. Quadrant Capital Group LLC increased its position in Teva Pharmaceutical Industries by 5.6% during the third quarter. Quadrant Capital Group LLC now owns 24,860 shares of the company’s stock worth $1,025,000 after buying an additional 1,309 shares during the last quarter. Diversify Advisory Services LLC raised its holdings in Teva Pharmaceutical Industries by 7.6% during the third quarter. Diversify Advisory Services LLC now owns 76,091 shares of the company’s stock valued at $3,128,000 after buying an additional 5,378 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Teva Pharmaceutical Industries by 9.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 128,047 shares of the company’s stock valued at $5,071,000 after buying an additional 10,864 shares in the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company is one of the world’s largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva’s portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.