Teva Pharmaceutical Industries (NYSE:TEVA) Shares Up 11.8%

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) shares shot up 11.8% on Thursday . The company traded as high as $7.77 and last traded at $7.77, 46,269,344 shares changed hands during trading. An increase of 186% from the average session volume of 16,171,964 shares. The stock had previously closed at $6.95.

A number of brokerages have recently weighed in on TEVA. Wells Fargo & Co dropped their price objective on shares of Teva Pharmaceutical Industries from $17.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. UBS Group set a $8.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “hold” rating in a report on Friday, August 16th. Wolfe Research began coverage on shares of Teva Pharmaceutical Industries in a report on Friday, July 19th. They set a “peer perform” rating and a $9.00 price objective on the stock. Raymond James dropped their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $10.00 price objective on shares of Teva Pharmaceutical Industries in a report on Thursday, August 8th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.17.

The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 2.64, a P/E/G ratio of 0.71 and a beta of 1.71. The business’s 50-day moving average is $7.15 and its 200-day moving average is $9.63. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 1.73.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.25 billion. Teva Pharmaceutical Industries had a negative net margin of 21.94% and a positive return on equity of 16.04%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, analysts expect that Teva Pharmaceutical Industries Ltd will post 2.26 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its position in shares of Teva Pharmaceutical Industries by 16.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 319,862 shares of the company’s stock worth $2,952,000 after acquiring an additional 46,200 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Teva Pharmaceutical Industries by 72.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 185,882 shares of the company’s stock worth $1,688,000 after acquiring an additional 77,895 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Teva Pharmaceutical Industries by 1.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 815,921 shares of the company’s stock worth $7,531,000 after acquiring an additional 8,235 shares during the period. MetLife Investment Advisors LLC raised its position in shares of Teva Pharmaceutical Industries by 20.0% in the first quarter. MetLife Investment Advisors LLC now owns 84,453 shares of the company’s stock worth $1,324,000 after acquiring an additional 14,100 shares during the period. Finally, Bridge Creek Capital Management LLC raised its position in shares of Teva Pharmaceutical Industries by 9.3% in the second quarter. Bridge Creek Capital Management LLC now owns 30,425 shares of the company’s stock worth $281,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 57.78% of the company’s stock.

About Teva Pharmaceutical Industries (NYSE:TEVA)

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.

Featured Story: Commodities

Receive News & Ratings for Teva Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teva Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.