Argus Upgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Buy

Argus upgraded shares of Teva Pharmaceutical Industries (NYSE:TEVA) from a hold rating to a buy rating in a report issued on Wednesday, MarketBeat reports. They currently have $20.00 price target on the stock.

TEVA has been the subject of a number of other research reports. Barclays upped their price target on shares of Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the stock an overweight rating in a report on Wednesday, June 5th. StockNews.com cut Teva Pharmaceutical Industries from a strong-buy rating to a buy rating in a research note on Monday, May 20th. Piper Sandler reiterated an overweight rating and issued a $20.00 price target (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, May 13th. Bank of America upped their price objective on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group lifted their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a buy rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of Moderate Buy and a consensus price target of $18.56.

Teva Pharmaceutical Industries Stock Performance

Teva Pharmaceutical Industries stock opened at $17.29 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.61 and a current ratio of 0.89. The stock’s fifty day moving average price is $16.60 and its two-hundred day moving average price is $14.10. Teva Pharmaceutical Industries has a one year low of $7.95 and a one year high of $17.69.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Teva Pharmaceutical Industries had a positive return on equity of 37.33% and a negative net margin of 2.88%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.70 billion. Analysts anticipate that Teva Pharmaceutical Industries will post 2.32 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the sale, the director now directly owns 981,000 shares in the company, valued at $16,706,430. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Vikki L. Conway sold 15,219 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.74, for a total value of $254,766.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roberto Mignone sold 519,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total value of $8,838,570.00. Following the transaction, the director now directly owns 981,000 shares of the company’s stock, valued at $16,706,430. The disclosure for this sale can be found here. Over the last three months, insiders sold 549,719 shares of company stock worth $9,353,736. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Teva Pharmaceutical Industries by 13.6% in the first quarter. Janney Montgomery Scott LLC now owns 1,372,477 shares of the company’s stock worth $19,366,000 after acquiring an additional 164,614 shares during the period. Assenagon Asset Management S.A. raised its holdings in Teva Pharmaceutical Industries by 705.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 579,562 shares of the company’s stock worth $6,051,000 after purchasing an additional 507,568 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Teva Pharmaceutical Industries by 31.7% in the 4th quarter. SG Americas Securities LLC now owns 544,878 shares of the company’s stock worth $5,689,000 after purchasing an additional 131,043 shares during the period. Wellington Management Group LLP lifted its position in shares of Teva Pharmaceutical Industries by 42.2% in the 3rd quarter. Wellington Management Group LLP now owns 344,587 shares of the company’s stock worth $3,515,000 after purchasing an additional 102,261 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Teva Pharmaceutical Industries by 28.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 41,882 shares of the company’s stock valued at $437,000 after purchasing an additional 9,312 shares during the last quarter. 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.