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

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares gapped up before the market opened on Monday . The stock had previously closed at $14.87, but opened at $15.33. Teva Pharmaceutical Industries shares last traded at $15.37, with a volume of 1,628,099 shares.

Analyst Ratings Changes

TEVA has been the subject of a number of recent research reports. Bank of America reduced their price objective 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. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. UBS Group decreased their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Finally, Barclays decreased their price target on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Teva Pharmaceutical Industries Stock Down 0.1 %

The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $16.84 billion, a P/E ratio of -10.24, a P/E/G ratio of 1.44 and a beta of 0.72. The stock’s 50-day simple moving average is $15.23 and its 200-day simple moving average is $17.56.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its 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 negative net margin of 9.91% and a positive return on equity of 42.46%. As a group, research analysts predict that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Oarsman Capital Inc. bought a new position in Teva Pharmaceutical Industries in the 4th quarter worth about $29,000. Golden State Wealth Management LLC bought a new stake in Teva Pharmaceutical Industries during the first quarter valued at approximately $39,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Teva Pharmaceutical Industries in the 4th quarter worth $44,000. Wilmington Savings Fund Society FSB bought a new position in Teva Pharmaceutical Industries in the third quarter valued at $50,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Teva Pharmaceutical Industries in the 1st quarter worth about $54,000. 54.05% of the stock is currently owned by hedge funds and other 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.