Teva Pharmaceutical Industries (NYSE:TEVA) Shares Gap Down – Here’s What Happened

Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) gapped down before the market opened on Wednesday . The stock had previously closed at $21.53, but opened at $19.18. Teva Pharmaceutical Industries shares last traded at $18.84, with a volume of 8,414,180 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TEVA shares. UBS Group dropped their target price on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler boosted their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their price target on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Barclays dropped their target price 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Teva Pharmaceutical Industries Stock Performance

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 business’s 50-day moving average is $19.97 and its two-hundred day moving average is $18.48.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings data 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 40.20%. Analysts forecast that Teva Pharmaceutical Industries Limited will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction 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 transaction, the director now directly owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This trade represents a 29.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christine Fox sold 19,388 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total value of $327,075.56. Following the sale, the executive vice president now directly owns 44,104 shares of the company’s stock, 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 owned by corporate insiders.

Institutional Trading of Teva Pharmaceutical Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. AustralianSuper Pty Ltd increased its holdings in Teva Pharmaceutical Industries by 16.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 9,222,695 shares of the company’s stock valued at $203,268,000 after buying an additional 1,329,319 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Teva Pharmaceutical Industries by 21.8% in the 4th quarter. V Square Quantitative Management LLC now owns 19,802 shares of the company’s stock valued at $439,000 after acquiring an additional 3,549 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Teva Pharmaceutical Industries by 9.4% during the fourth quarter. Vontobel Holding Ltd. now owns 687,261 shares of the company’s stock worth $15,147,000 after purchasing an additional 58,772 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Teva Pharmaceutical Industries by 14.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company’s stock worth $10,414,000 after purchasing an additional 58,413 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $104,000. 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.