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

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report) gapped up before the market opened 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.

Analyst Ratings Changes

TEVA has been the subject of several analyst reports. Piper Sandler boosted their price target 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. UBS Group lowered their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Barclays lowered their price target on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.57.

Teva Pharmaceutical Industries Stock Down 1.6 %

The firm has a market cap of $18.95 billion, a PE ratio of -11.53, a P/E/G ratio of 1.39 and a beta of 0.71. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The firm's 50-day moving average price is $19.92 and its two-hundred day moving average price is $18.48.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 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%. As a group, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.61 EPS for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction dated 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 in the company, valued at $15,296,950. This represents a 29.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.55% of the company's stock.

Institutional Trading of Teva Pharmaceutical Industries

Several large investors have recently bought and sold shares of the company. Creative Planning grew its position in shares of Teva Pharmaceutical Industries by 4.5% during the third quarter. Creative Planning now owns 42,815 shares of the company's stock worth $772,000 after buying an additional 1,863 shares in the last quarter. Blue Trust Inc. lifted its stake in Teva Pharmaceutical Industries by 40.1% in the third quarter. Blue Trust Inc. now owns 14,619 shares of the company's stock valued at $263,000 after buying an additional 4,185 shares during the last quarter. Raymond James & Associates lifted its stake in Teva Pharmaceutical Industries by 25.1% in the third quarter. Raymond James & Associates now owns 1,020,719 shares of the company's stock valued at $18,393,000 after buying an additional 204,775 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Teva Pharmaceutical Industries by 0.7% during the third quarter. Sequoia Financial Advisors LLC now owns 112,380 shares of the company's stock valued at $2,025,000 after purchasing an additional 805 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Teva Pharmaceutical Industries by 16.9% during the third quarter. Signaturefd LLC now owns 7,583 shares of the company's stock valued at $137,000 after purchasing an additional 1,094 shares in the last quarter. Institutional investors and hedge funds 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.