Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Up - Time to Buy?

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.25, but opened at $17.15. Teva Pharmaceutical Industries shares last traded at $16.96, with a volume of 3,659,756 shares.

Analysts Set New Price Targets

TEVA has been the topic of a number of research reports. UBS Group cut 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 note on Thursday, January 30th. Barclays cut their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Piper Sandler increased their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, StockNews.com lowered shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries has an average rating of "Moderate Buy" and an average price target of $23.57.

Teva Pharmaceutical Industries Trading Down 1.5 %

The company has a market cap of $18.97 billion, a price-to-earnings ratio of -11.55, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. 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 company's 50-day moving average is $19.92 and its 200 day moving average is $18.48.

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 (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. Research analysts predict that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the transaction, the director now directly owns 695,000 shares of the company's stock, valued at $15,296,950. This trade represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Teva Pharmaceutical Industries by 49.5% in the third quarter. FMR LLC now owns 62,740,763 shares of the company's stock worth $1,130,589,000 after buying an additional 20,762,226 shares in the last quarter. Duquesne Family Office LLC lifted its stake in shares of Teva Pharmaceutical Industries by 530.1% in the fourth quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company's stock worth $198,303,000 after buying an additional 7,569,450 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Teva Pharmaceutical Industries by 7,945.2% in the third quarter. Janus Henderson Group PLC now owns 4,791,937 shares of the company's stock worth $86,350,000 after buying an additional 4,732,374 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Teva Pharmaceutical Industries by 12.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company's stock worth $859,935,000 after buying an additional 4,418,961 shares in the last quarter. Finally, Todd Asset Management LLC purchased a new position in shares of Teva Pharmaceutical Industries in the fourth quarter worth about $58,243,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

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.