Teva Pharmaceutical Industries (NYSE:TEVA) Price Target Raised to $35.00 at The Goldman Sachs Group

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target boosted by analysts at The Goldman Sachs Group from $31.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 15.20% from the company’s current price.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target 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. 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 research note on Wednesday, September 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Scotiabank initiated coverage on Teva Pharmaceutical Industries in a research note on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price target on the stock. Finally, Wall Street Zen lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Three 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 company. According to MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of “Buy” and a consensus price target of $31.63.

Teva Pharmaceutical Industries Price Performance

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

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, VP Richard Daniell sold 115,468 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total transaction of $3,311,622.24. Following the completion of the sale, the vice president directly owned 48,384 shares of the company’s stock, valued at $1,387,653.12. This trade represents a 70.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Sabag sold 216,892 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total transaction of $6,231,307.16. Following the completion of the sale, the insider directly owned 52,828 shares in the company, valued at approximately $1,517,748.44. The trade was a 80.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 622,060 shares of company stock worth $17,076,965 in the last 90 days. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Phoenix Financial Ltd. increased 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 valued at $834,164,000 after buying an additional 3,533,800 shares in the last quarter. Ion Asset Management Ltd. grew its stake in 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 acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. grew its stake in 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 acquiring an additional 427,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings 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 valued at $761,455,000 after acquiring an additional 4,306,363 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Teva Pharmaceutical Industries by 13.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,582,212 shares of the company’s stock worth $658,161,000 after acquiring an additional 3,896,790 shares during the last quarter. Hedge funds and other 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.