Short Interest in Teva Pharmaceutical Industries Limited (NYSE:TEVA) Drops By 18.7%

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 19,910,000 shares, a drop of 18.7% from the September 30th total of 24,490,000 shares. Based on an average trading volume of 7,430,000 shares, the short-interest ratio is currently 2.7 days.

Teva Pharmaceutical Industries Trading Up 2.6 %

NYSE TEVA traded up $0.47 during trading on Monday, hitting $18.37. The stock had a trading volume of 3,864,521 shares, compared to its average volume of 9,329,213. The stock has a 50 day simple moving average of $18.01 and a 200 day simple moving average of $16.80. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of -44.80, a P/E/G ratio of 1.29 and a beta of 0.88. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries has a one year low of $8.23 and a one year high of $19.08.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. Sell-side analysts predict that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays upped their price target on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Argus upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Wednesday, July 10th. UBS Group increased their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. StockNews.com upgraded Teva Pharmaceutical Industries from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $19.67.

Insider Buying and Selling

In other news, insider Eric A. Hughes sold 24,537 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the sale, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEVA. Renaissance Technologies LLC grew its position in shares of Teva Pharmaceutical Industries by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company's stock valued at $141,839,000 after acquiring an additional 1,031,400 shares during the period. Maple Rock Capital Partners Inc. raised its position in shares of Teva Pharmaceutical Industries by 68.3% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company's stock valued at $61,568,000 after buying an additional 1,770,000 shares during the period. Truist Financial Corp grew its holdings in shares of Teva Pharmaceutical Industries by 7.0% during the 2nd quarter. Truist Financial Corp now owns 3,885,251 shares of the company's stock worth $63,135,000 after purchasing an additional 254,483 shares during the period. Iron Triangle Partners LP raised its position in Teva Pharmaceutical Industries by 113.1% in the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company's stock valued at $39,083,000 after purchasing an additional 1,469,864 shares during the period. Finally, Tri Locum Partners LP lifted its stake in Teva Pharmaceutical Industries by 15.1% during the 2nd quarter. Tri Locum Partners LP now owns 2,550,307 shares of the company's stock worth $41,442,000 after acquiring an additional 334,119 shares in 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 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.