Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 1-Year High Following Strong Earnings

Teva Pharmaceutical Industries Limited (NYSE:TEVA) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $19.20 and last traded at $19.13, with a volume of 246957 shares changing hands. The stock had previously closed at $18.77.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their target price 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in TEVA. QRG Capital Management Inc. lifted its position in Teva Pharmaceutical Industries by 53.7% in the 1st quarter. QRG Capital Management Inc. now owns 143,747 shares of the company’s stock valued at $2,028,000 after acquiring an additional 50,247 shares in the last quarter. Capital Wealth Planning LLC bought a new position in shares of Teva Pharmaceutical Industries during the first quarter worth about $2,169,000. SG Americas Securities LLC raised its position in Teva Pharmaceutical Industries by 12.0% in the 1st quarter. SG Americas Securities LLC now owns 610,407 shares of the company’s stock valued at $8,613,000 after buying an additional 65,529 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in Teva Pharmaceutical Industries in the 2nd quarter valued at approximately $1,334,000. Finally, Point72 Asset Management L.P. boosted its position in Teva Pharmaceutical Industries by 38.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,319,217 shares of the company’s stock worth $21,437,000 after acquiring an additional 363,217 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Price Performance

The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The firm’s 50 day moving average price is $17.98 and its two-hundred day moving average price 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.