The Goldman Sachs Group Forecasts Strong Price Appreciation for Teva Pharmaceutical Industries (NYSE:TEVA) Stock

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price raised by investment analysts at The Goldman Sachs Group from $31.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 15.20% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America increased their price target on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. UBS Group upped their target price on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Barclays began coverage on Teva Pharmaceutical Industries in a research report on Tuesday, December 9th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Scotiabank initiated coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $31.63.

Teva Pharmaceutical Industries Trading Up 0.2%

TEVA stock traded up $0.06 during mid-day trading on Friday, reaching $30.38. The company’s stock had a trading volume of 3,007,168 shares, compared to its average volume of 11,717,195. Teva Pharmaceutical Industries has a 12 month low of $12.47 and a 12 month high of $30.44. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The business’s 50 day moving average price is $24.23 and its 200 day moving average price is $19.95. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 216,892 shares of Teva Pharmaceutical Industries stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total value of $6,231,307.16. Following the completion of the transaction, the insider directly owned 52,828 shares of the company’s stock, valued at $1,517,748.44. This trade represents a 80.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amir Weiss sold 12,300 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $30.20, for a total transaction of $371,460.00. Following the completion of the sale, the chief accounting officer owned 5,650 shares in the company, valued at approximately $170,630. This trade represents a 68.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 622,060 shares of company stock valued at $17,076,965 in the last ninety days. Insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in Teva Pharmaceutical Industries during the 2nd quarter valued at about $41,000. Cromwell Holdings LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 40.3% during the third quarter. Cromwell Holdings LLC now owns 2,191 shares of the company’s stock worth $44,000 after purchasing an additional 629 shares during the period. Sound Income Strategies LLC boosted its position in Teva Pharmaceutical Industries by 3,715.8% in the second quarter. Sound Income Strategies LLC now owns 2,900 shares of the company’s stock valued at $49,000 after buying an additional 2,824 shares during the last quarter. MAI Capital Management boosted its position in Teva Pharmaceutical Industries by 26.8% in the second quarter. MAI Capital Management now owns 3,293 shares of the company’s stock valued at $55,000 after buying an additional 697 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in Teva Pharmaceutical Industries by 97.0% in the 3rd quarter. Rothschild Investment LLC now owns 2,738 shares of the company’s stock worth $55,000 after buying an additional 1,348 shares during the period. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.