Jefferies Financial Group Raises Teva Pharmaceutical Industries (NYSE:TEVA) Price Target to $40.00

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price upped by Jefferies Financial Group from $29.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 24.28% from the stock’s current price.

A number of other brokerages have also issued reports on TEVA. Bank of America increased their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Barclays assumed coverage on shares of Teva Pharmaceutical Industries in a report on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 price objective for the company. Scotiabank initiated coverage on Teva Pharmaceutical Industries in a report on Friday, December 5th. They set a “sector outperform” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $33.67.

Teva Pharmaceutical Industries Stock Performance

TEVA stock traded up $1.19 during trading on Tuesday, reaching $32.19. 13,610,965 shares of the company’s stock were exchanged, compared to its average volume of 12,098,926. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. Teva Pharmaceutical Industries has a 1-year low of $12.47 and a 1-year high of $32.91. The company’s fifty day moving average price is $27.07 and its 200-day moving average price is $21.17. The firm has a market cap of $36.91 billion, a PE ratio of 53.53, a P/E/G ratio of 1.79 and a beta of 0.66.

Insider Buying and Selling

In related news, insider Mark Sabag sold 216,892 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.73, for a total value of $6,231,307.16. Following the transaction, the insider owned 52,828 shares of the company’s stock, valued at approximately $1,517,748.44. This trade represents a 80.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $371,460.00. Following the sale, the chief accounting officer owned 5,650 shares in the company, valued at approximately $170,630. The trade was a 68.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 622,060 shares of company stock valued at $17,076,965. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Phoenix Financial Ltd. lifted its position in shares of Teva Pharmaceutical Industries by 9.4% in the 3rd quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company’s stock valued at $834,164,000 after acquiring an additional 3,533,800 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its stake in Teva Pharmaceutical Industries by 1.1% during 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 period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Teva Pharmaceutical Industries by 12.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,696,690 shares of the company’s stock valued at $761,455,000 after purchasing an additional 4,306,363 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Teva Pharmaceutical Industries by 13.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,582,212 shares of the company’s stock worth $658,161,000 after buying an additional 3,896,790 shares during the period. Finally, Lingotto Investment Management LLP boosted its position in shares of Teva Pharmaceutical Industries by 1.1% in the second quarter. Lingotto Investment Management LLP now owns 28,156,918 shares of the company’s stock worth $471,910,000 after buying an additional 302,975 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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.