Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up - Here's What Happened

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.80, but opened at $14.36. Teva Pharmaceutical Industries shares last traded at $13.53, with a volume of 2,589,953 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on TEVA. Bank of America dropped their price target on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Piper Sandler raised their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Barclays dropped their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. StockNews.com raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, UBS Group decreased their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.43.

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Teva Pharmaceutical Industries Trading Up 4.7 %

The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. The stock's fifty day moving average price is $15.79 and its two-hundred day moving average price is $17.82. The company has a market capitalization of $15.22 billion, a PE ratio of -9.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. Sell-side analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current year.

Institutional Trading of Teva Pharmaceutical Industries

A number of hedge funds have recently made changes to their positions in TEVA. Oarsman Capital Inc. bought a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Teva Pharmaceutical Industries during the 4th quarter valued at about $44,000. Wilmington Savings Fund Society FSB purchased a new position in Teva Pharmaceutical Industries in the third quarter worth about $50,000. Ameliora Wealth Management Ltd. bought a new position in shares of Teva Pharmaceutical Industries in the fourth quarter worth approximately $66,000. Finally, Versant Capital Management Inc grew its holdings in shares of Teva Pharmaceutical Industries by 437.8% during the first quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock valued at $81,000 after buying an additional 4,312 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

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.