Teva Pharmaceutical Industries (NYSE:TEVA) Shares Pass Above 200-Day Moving Average - Here's What Happened

Teva Pharmaceutical Industries Limited (NYSE:TEVA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.84 and traded as high as $22.30. Teva Pharmaceutical Industries shares last traded at $21.30, with a volume of 8,123,668 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on TEVA shares. JPMorgan Chase & Co. raised their price objective on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Finally, Barclays upped their price objective on Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $20.88.

Teva Pharmaceutical Industries Price Performance

The stock's 50-day simple moving average is $18.60 and its two-hundred day simple moving average is $17.87. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market cap of $24.06 billion, a P/E ratio of -24.99, a PEG ratio of 0.99 and a beta of 0.79.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $22.01, for a total value of $6,294,860.00. Following the sale, the director now owns 695,000 shares in the company, valued at $15,296,950. This represents a 29.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christine Fox sold 19,388 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.87, for a total transaction of $327,075.56. Following the completion of the transaction, the executive vice president now owns 44,104 shares in the company, valued at approximately $744,034.48. This trade represents a 30.54 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Teva Pharmaceutical Industries by 49.5% during the 3rd quarter. FMR LLC now owns 62,740,763 shares of the company's stock valued at $1,130,589,000 after purchasing an additional 20,762,226 shares in the last quarter. Janus Henderson Group PLC increased its holdings in 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 valued at $86,350,000 after buying an additional 4,732,374 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Teva Pharmaceutical Industries by 237.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,377,517 shares of the company's stock worth $60,863,000 after acquiring an additional 2,376,668 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Teva Pharmaceutical Industries by 6.8% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company's stock worth $621,337,000 after acquiring an additional 2,204,623 shares in the last quarter. Finally, State Street Corp grew its position in shares of Teva Pharmaceutical Industries by 10.0% during the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company's stock valued at $351,402,000 after acquiring an additional 1,778,268 shares during the period. 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.