Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up – Here’s What Happened

Teva Pharmaceutical Industries Limited (NYSE:TEVA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $13.80, but opened at $14.36. Teva Pharmaceutical Industries shares last traded at $13.53, with a volume of 2,589,953 shares changing hands.

Analyst Upgrades and Downgrades

TEVA has been the topic of several recent research reports. Barclays dropped their price target on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. UBS Group reduced their price target on shares of 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. StockNews.com raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Bank of America reduced their target price on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, 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 research note on Friday, January 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.43.

Teva Pharmaceutical Industries Stock Up 4.2 %

The company has a fifty day moving average price of $16.10 and a 200 day moving average price of $17.93. The company has a market cap of $16.06 billion, a PE ratio of -9.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72. 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 results on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oarsman Capital Inc. bought a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter worth about $44,000. Wilmington Savings Fund Society FSB bought a new stake in Teva Pharmaceutical Industries during the 3rd quarter valued at approximately $50,000. Ameliora Wealth Management Ltd. bought a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter valued at approximately $66,000. Finally, IFP Advisors Inc boosted its holdings in shares of Teva Pharmaceutical Industries by 96.1% during the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company’s stock valued at $88,000 after buying an additional 1,960 shares in the last quarter. Institutional investors own 54.05% of the company’s stock.

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.