Teva Pharmaceutical Industries Ltd (NYSE:TEVA)’s share price dropped 1.7% during trading on Thursday . The company traded as low as $6.28 and last traded at $6.19, approximately 293,879 shares changed hands during trading. A decline of 99% from the average daily volume of 22,157,752 shares. The stock had previously closed at $6.30.
TEVA has been the subject of a number of research analyst reports. Bank of America cut Teva Pharmaceutical Industries from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $19.00 to $9.00 in a report on Thursday, May 30th. Barclays initiated coverage on Teva Pharmaceutical Industries in a report on Tuesday, June 11th. They set an “underweight” rating and a $8.00 price target for the company. CIBC upgraded Teva Pharmaceutical Industries from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, June 3rd. Wells Fargo & Co set a $17.00 price objective on Teva Pharmaceutical Industries and gave the stock a “hold” rating in a report on Tuesday, May 28th. Finally, Wolfe Research initiated coverage on Teva Pharmaceutical Industries in a report on Friday, July 19th. They set a “peer perform” rating and a $9.00 price objective for the company. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Teva Pharmaceutical Industries currently has an average rating of “Hold” and a consensus price target of $13.21.
The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average price of $8.19 and a 200-day moving average price of $12.69. The company has a market cap of $6.28 billion, a P/E ratio of 2.20, a PEG ratio of 0.73 and a beta of 1.64.
Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 21.94% and a positive return on equity of 16.04%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts expect that Teva Pharmaceutical Industries Ltd will post 2.29 earnings per share for the current year.
In other news, VP Notaristefani Carlo De sold 16,070 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.42, for a total value of $183,519.40. Following the completion of the sale, the vice president now directly owns 49,659 shares in the company, valued at $567,105.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sol J. Barer purchased 111,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was acquired at an average price of $8.98 per share, with a total value of $996,780.00. Following the completion of the transaction, the director now owns 115,942 shares of the company’s stock, valued at approximately $1,041,159.16. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Teva Pharmaceutical Industries by 4.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 19,861 shares of the company’s stock valued at $311,000 after purchasing an additional 767 shares in the last quarter. ARK Investment Management LLC raised its position in Teva Pharmaceutical Industries by 3.6% during the first quarter. ARK Investment Management LLC now owns 24,462 shares of the company’s stock valued at $384,000 after purchasing an additional 856 shares in the last quarter. Lindbrook Capital LLC raised its position in Teva Pharmaceutical Industries by 61.2% during the first quarter. Lindbrook Capital LLC now owns 2,489 shares of the company’s stock valued at $39,000 after purchasing an additional 945 shares in the last quarter. Wedbush Securities Inc. raised its position in Teva Pharmaceutical Industries by 3.7% during the first quarter. Wedbush Securities Inc. now owns 28,385 shares of the company’s stock valued at $445,000 after purchasing an additional 1,015 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its position in Teva Pharmaceutical Industries by 8.7% during the first quarter. HighPoint Advisor Group LLC now owns 12,920 shares of the company’s stock valued at $188,000 after purchasing an additional 1,035 shares in the last quarter. Institutional investors own 65.28% of the company’s stock.
About Teva Pharmaceutical Industries (NYSE:TEVA)
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.
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