Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 12-Month High – Still a Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reached a new 52-week high on Wednesday . The company traded as high as $23.10 and last traded at $24.3310, with a volume of 2640427 shares. The stock had previously closed at $20.46.

Analyst Ratings Changes

TEVA has been the subject of a number of analyst reports. UBS Group boosted their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of “Buy” and an average target price of $25.57.

Teva Pharmaceutical Industries Trading Up 20.8%

The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $28.36 billion, a price-to-earnings ratio of -154.09, a PEG ratio of 1.11 and a beta of 0.71. The firm has a 50-day moving average of $19.37 and a 200 day moving average of $17.66.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Hedge funds have recently modified their holdings of the stock. Phoenix Financial Ltd. lifted its position in shares of Teva Pharmaceutical Industries by 9.4% in the third quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company’s stock worth $834,164,000 after buying an additional 3,533,800 shares during the last quarter. Ion Asset Management Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 6.5% in the 1st quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company’s stock worth $599,945,000 after buying an additional 2,383,500 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its position in Teva Pharmaceutical Industries by 31.9% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 38,493,294 shares of the company’s stock worth $645,148,000 after acquiring an additional 9,303,978 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Teva Pharmaceutical Industries by 12.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,696,690 shares of the company’s stock worth $761,455,000 after acquiring an additional 4,306,363 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Teva Pharmaceutical Industries by 13.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,582,212 shares of the company’s stock valued at $658,161,000 after buying an additional 3,896,790 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

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.