Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down - Here's Why

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $16.75, but opened at $16.22. Teva Pharmaceutical Industries shares last traded at $16.56, with a volume of 634,057 shares.

Analyst Upgrades and Downgrades

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

Teva Pharmaceutical Industries Stock Down 1.9 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The firm's 50 day simple moving average is $17.81 and its two-hundred day simple moving average is $17.20. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of -19.34, a PEG ratio of 1.32 and a beta of 0.87.

Institutional Trading of Teva Pharmaceutical Industries

Several large investors have recently bought and sold shares of TEVA. New Covenant Trust Company N.A. bought a new stake in Teva Pharmaceutical Industries during the 1st quarter worth $28,000. EntryPoint Capital LLC bought a new stake in shares of Teva Pharmaceutical Industries during the first quarter worth about $30,000. UMB Bank n.a. raised its holdings in Teva Pharmaceutical Industries by 555.6% in the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company's stock valued at $44,000 after buying an additional 2,067 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in Teva Pharmaceutical Industries during the 2nd quarter worth approximately $48,000. Finally, Smithfield Trust Co increased its position in Teva Pharmaceutical Industries by 55.7% in the 3rd quarter. Smithfield Trust Co now owns 2,739 shares of the company's stock valued at $50,000 after acquiring an additional 980 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

About Teva Pharmaceutical Industries

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.