JPMorgan Chase & Co. Upgrades Teva Pharmaceutical Industries (NYSE:TEVA) to Overweight

Teva Pharmaceutical Industries (NYSE:TEVA) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday,Benzinga reports. The firm presently has a $23.00 price objective on the stock, up from their prior price objective of $21.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 35.77% from the company’s current price.

Several other research analysts have also issued reports on the stock. Bank of America increased their target price on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. StockNews.com raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a “strong-buy” rating in a research note on Monday, April 28th. Finally, UBS Group cut their target price 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.43.

Teva Pharmaceutical Industries Trading Down 6.3%

Shares of NYSE TEVA opened at $16.94 on Monday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. Teva Pharmaceutical Industries has a 52-week low of $12.47 and a 52-week high of $22.80. The firm has a 50 day moving average price of $15.18 and a two-hundred day moving average price of $17.44. The stock has a market cap of $19.21 billion, a P/E ratio of -11.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the company posted $0.48 earnings per share. Teva Pharmaceutical Industries’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Teva Pharmaceutical Industries will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Diversify Advisory Services LLC lifted its stake in shares of Teva Pharmaceutical Industries by 2.5% in the fourth quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company’s stock valued at $426,000 after buying an additional 496 shares in the last quarter. US Bancorp DE lifted its position in shares of Teva Pharmaceutical Industries by 6.5% during the first quarter. US Bancorp DE now owns 10,812 shares of the company’s stock valued at $166,000 after purchasing an additional 656 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Teva Pharmaceutical Industries by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company’s stock valued at $4,964,000 after purchasing an additional 699 shares in the last quarter. Bfsg LLC lifted its position in shares of Teva Pharmaceutical Industries by 7.8% during the first quarter. Bfsg LLC now owns 10,960 shares of the company’s stock valued at $168,000 after purchasing an additional 790 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Teva Pharmaceutical Industries by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 40,162 shares of the company’s stock valued at $885,000 after purchasing an additional 812 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

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.