Teva Pharmaceutical Industries Ltd (TEVA) Sees Large Drop in Short Interest
Teva Pharmaceutical Industries Ltd (NYSE:TEVA) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 37,244,528 shares, a decline of 11.3% from the July 13th total of 42,005,618 shares. Based on an average daily trading volume, of 6,526,679 shares, the days-to-cover ratio is presently 5.7 days.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, July 9th. Citigroup boosted their target price on shares of Teva Pharmaceutical Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, June 27th. Goldman Sachs Group boosted their target price on shares of Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Royal Bank of Canada restated a “hold” rating and set a $19.00 target price on shares of Teva Pharmaceutical Industries in a research report on Tuesday, July 31st. Finally, Wells Fargo & Co upgraded shares of Teva Pharmaceutical Industries from an “underperform” rating to a “market perform” rating in a research report on Monday, June 18th. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. Teva Pharmaceutical Industries has a consensus rating of “Hold” and an average target price of $20.45.
In other news, EVP Sven Dethlefs acquired 2,000 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were bought at an average cost of $21.92 per share, with a total value of $43,840.00. Following the purchase, the executive vice president now owns 6,445 shares of the company’s stock, valued at approximately $141,274.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Iris Beck Codner sold 4,165 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $22.70, for a total transaction of $94,545.50. Following the completion of the transaction, the executive vice president now directly owns 8,290 shares in the company, valued at $188,183. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
Teva Pharmaceutical Industries stock opened at $24.22 on Friday. Teva Pharmaceutical Industries has a 52 week low of $10.85 and a 52 week high of $25.14. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.69 and a current ratio of 1.03. The stock has a market capitalization of $22.86 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 2.80 and a beta of 0.72.
Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.64 by $0.14. Teva Pharmaceutical Industries had a negative net margin of 47.98% and a positive return on equity of 19.92%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. analysts forecast that Teva Pharmaceutical Industries will post 2.67 EPS for the current fiscal year.
About Teva Pharmaceutical Industries
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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