Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – What’s Next?

Teva Pharmaceutical Industries Limited (NYSE:TEVA) gapped down before the market opened on Wednesday . The stock had previously closed at $21.53, but opened at $19.18. Teva Pharmaceutical Industries shares last traded at $18.84, with a volume of 8,414,180 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TEVA shares. UBS Group raised their target price on Teva Pharmaceutical Industries from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com lowered shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays raised their price objective on shares of Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Teva Pharmaceutical Industries has an average rating of “Moderate Buy” and a consensus price target of $22.63.

Teva Pharmaceutical Industries Stock Down 12.3 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The stock’s fifty day moving average is $19.94 and its 200 day moving average is $18.47. The company has a market capitalization of $21.38 billion, a P/E ratio of -22.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73.

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 analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 42.92%. Research analysts predict that Teva Pharmaceutical Industries Limited will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 286,000 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, December 20th. The stock was 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. The trade was a 29.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christine Fox sold 19,388 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total transaction of $327,075.56. Following the sale, the executive vice president now owns 44,104 shares in the company, valued at approximately $744,034.48. The trade was a 30.54 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of Teva Pharmaceutical Industries

A number of large investors have recently made changes to their positions in TEVA. Coronation Fund Managers Ltd. bought a new stake in Teva Pharmaceutical Industries in the 2nd quarter worth approximately $1,334,000. Dimensional Fund Advisors LP grew its holdings in shares of Teva Pharmaceutical Industries by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,466,704 shares of the company’s stock worth $23,834,000 after acquiring an additional 274,891 shares during the period. Bank of Montreal Can increased its position in Teva Pharmaceutical Industries by 16.8% during the second quarter. Bank of Montreal Can now owns 413,759 shares of the company’s stock valued at $6,831,000 after acquiring an additional 59,648 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Teva Pharmaceutical Industries by 17,298.3% in the second quarter. Toronto Dominion Bank now owns 20,704 shares of the company’s stock valued at $336,000 after acquiring an additional 20,585 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Teva Pharmaceutical Industries in the second quarter worth about $262,000. 54.05% of the stock is currently owned by institutional investors.

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.