Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 52-Week High on Earnings Beat

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $19.20 and last traded at $19.13, with a volume of 246957 shares. The stock had previously closed at $18.77.

The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Teva Pharmaceutical Industries had a positive return on equity of 41.43% and a negative net margin of 5.73%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.08 billion.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Institutional investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in Teva Pharmaceutical Industries during the 1st quarter valued at $28,000. EntryPoint Capital LLC bought a new position in Teva Pharmaceutical Industries during the first quarter valued at $30,000. UMB Bank n.a. raised its stake in shares of Teva Pharmaceutical Industries by 555.6% in the third quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock valued at $44,000 after acquiring an additional 2,067 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter worth about $48,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Teva Pharmaceutical Industries during the 2nd quarter worth about $52,000. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

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 firm’s fifty day moving average is $17.98 and its 200 day moving average is $17.07.

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.