Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 1-Year High – Still a Buy?

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)’s stock price hit a new 52-week high on Monday . The stock traded as high as $30.30 and last traded at $30.0190, with a volume of 3932738 shares. The stock had previously closed at $29.79.

Analysts Set New Price Targets

TEVA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Teva Pharmaceutical Industries from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Barclays started coverage on shares of Teva Pharmaceutical Industries in a research report on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, December 8th. UBS Group raised their target price on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $30.25.

Teva Pharmaceutical Industries Price Performance

The firm has a 50 day moving average of $23.43 and a 200-day moving average of $19.63. 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 company has a market cap of $34.74 billion, a P/E ratio of 50.54, a P/E/G ratio of 1.77 and a beta of 0.67.

Insiders Place Their Bets

In other news, insider Mark Sabag sold 216,892 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total transaction of $6,231,307.16. Following the completion of the transaction, the insider owned 52,828 shares in the company, valued at $1,517,748.44. This trade represents a 80.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Daniell sold 115,468 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total value of $3,311,622.24. Following the completion of the sale, the vice president directly owned 48,384 shares in the company, valued at $1,387,653.12. This trade represents a 70.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 532,360 shares of company stock worth $14,364,929 in the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Teva Pharmaceutical Industries

Several hedge funds have recently made changes to their positions in TEVA. Phoenix Financial Ltd. grew its position in 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 acquiring an additional 3,533,800 shares in the last quarter. Ion Asset Management Ltd. lifted its stake 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 valued at $599,945,000 after purchasing an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in shares of Teva Pharmaceutical Industries by 1.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock valued at $786,190,000 after purchasing an additional 427,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Teva Pharmaceutical Industries by 12.9% in 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 purchasing an additional 4,306,363 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Teva Pharmaceutical Industries by 13.6% during 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 purchasing an additional 3,896,790 shares during the last quarter. 54.05% of the stock is currently owned by hedge funds and other 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.