Teva Pharmaceutical Industries Limited (NYSE:TEVA) Sees Significant Decline in Short Interest

Teva Pharmaceutical Industries Limited (NYSE:TEVA) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 19,910,000 shares, a drop of 18.7% from the September 30th total of 24,490,000 shares. Based on an average daily trading volume, of 7,430,000 shares, the short-interest ratio is currently 2.7 days.

Insider Activity at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the transaction, the insider now directly owns 45,060 shares in the company, valued at approximately $777,285. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of institutional investors and hedge funds have recently made changes to their positions in TEVA. New Covenant Trust Company N.A. purchased a new position in Teva Pharmaceutical Industries during the first quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new position in shares of Teva Pharmaceutical Industries during the 1st quarter valued at $30,000. UMB Bank n.a. boosted 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 worth $44,000 after buying an additional 2,067 shares during the period. Claro Advisors LLC bought a new stake in Teva Pharmaceutical Industries during the third quarter valued at about $52,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Teva Pharmaceutical Industries in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Up 0.8 %

TEVA traded up $0.16 during trading on Wednesday, hitting $18.59. 6,343,361 shares of the company’s stock traded hands, compared to its average volume of 9,307,149. Teva Pharmaceutical Industries has a 12-month low of $8.42 and a 12-month high of $19.08. The company’s 50 day simple moving average is $18.02 and its two-hundred day simple moving average is $16.87. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of -45.33, a PEG ratio of 1.29 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. Analysts predict that Teva Pharmaceutical Industries will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group boosted their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and an average target price of $19.67.

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.