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

Teva Pharmaceutical Industries Limited (NYSE:TEVA) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 30,340,000 shares, a growth of 26.7% from the August 31st total of 23,950,000 shares. Based on an average daily volume of 8,710,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEVA. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. 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 research note on Tuesday, September 3rd. StockNews.com downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Jefferies Financial Group upped their price target on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Barclays lifted their price objective on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Teva Pharmaceutical Industries Stock Performance

Shares of Teva Pharmaceutical Industries stock traded up $0.56 during trading on Monday, hitting $18.02. 6,174,843 shares of the stock were exchanged, compared to its average volume of 9,804,868. Teva Pharmaceutical Industries has a 12 month low of $8.06 and a 12 month high of $19.08. The stock has a market cap of $20.41 billion, a PE ratio of -43.95, a P/E/G ratio of 1.23 and a beta of 0.88. The stock’s fifty day moving average is $17.76 and its 200 day moving average is $16.25. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results 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. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eric A. Hughes sold 24,537 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the completion of the transaction, the insider now directly owns 45,060 shares of the company’s stock, valued at $777,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds have recently bought and sold shares of TEVA. New Covenant Trust Company N.A. purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at about $28,000. EntryPoint Capital LLC acquired a new position in Teva Pharmaceutical Industries in the first quarter worth approximately $30,000. Beach Investment Counsel Inc. PA bought a new position in Teva Pharmaceutical Industries during the second quarter valued at approximately $48,000. Byrne Asset Management LLC acquired a new stake in Teva Pharmaceutical Industries in the second quarter valued at approximately $52,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Teva Pharmaceutical Industries in the first quarter worth approximately $54,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

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.