Teva- Pharmaceutical Industries Ltd. ADR (NYSE: TEVA) stock jumped 4.42% on Monday to $9.45 against a previous-day closing price of $9.05. With 9.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 8.31 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $9.48 whereas the lowest price it dropped to was $9.04. The 52-week range on TEVA shows that it touched its highest point at $11.44 and its lowest point at $7.09 during that stretch. It currently has a 1-year price target of $10.62. Beta for the stock currently stands at 1.16.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TEVA was up-trending over the past week, with a rise of 7.14%, but this was up by 16.38% over a month. Three-month performance dropped to -3.08% while six-month performance rose 18.87%. The stock gained 9.37% in the past year, while it has gained 3.62% so far this year. A look at the trailing 12-month EPS for TEVA yields -1.98 with Next year EPS estimates of 2.43. For the next quarter, that number is 0.74. This implies an EPS growth rate of -8.52% for this year and 5.47% for next year. EPS is expected to grow by 1.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 33.47%.
Float and Shares Shorts:
At present, 1.12 billion TEVA shares are outstanding with a float of 1.12 billion shares on hand for trading. On Oct 30, 2023, short shares totaled 14.67 million, which was 1.56% higher than short shares on Sep 28, 2023. In addition to Mr. Eliyahu Sharon Kalif as the firm’s Executive VP & CFO, Mr. Eric Drape serves as its Executive Vice President of Global Operations.
Through their ownership of 49.63% of TEVA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.72% of TEVA, in contrast to 44.08% held by mutual funds. Shares owned by individuals account for 0.13%. As the largest shareholder in TEVA with 3.46% of the stake, Ion Asset Management holds 38,822,516 shares worth 38,822,516. A second-largest stockholder of TEVA, Excellence Investments Ltd., holds 34,481,692 shares, controlling over 3.08% of the firm’s shares. Lingotto Investment Management LL is the third largest shareholder in TEVA, holding 33,849,856 shares or 3.02% stake. With a 0.60% stake in TEVA, the American Funds Fundamental Invest is the largest stakeholder. A total of 6,727,432 shares are owned by the mutual fund manager. The iShares Tr. – Core MSCI EAFE ETF, which owns about 0.56% of TEVA stock, is the second-largest Mutual Fund holder. It holds 6,300,980 shares valued at 54.06 million. iShares Tr. – MSCI EAFE ETF holds 0.31% of the stake in TEVA, owning 3,506,571 shares worth 30.09 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TEVA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TEVA analysts setting a high price target of $14.00 and a low target of $8.00, the average target price over the next 12 months is $10.63. Based on these targets, TEVA could surge 48.15% to reach the target high and fall by -15.34% to reach the target low. Reaching the average price target will result in a growth of 12.49% from current levels.
Summary of Insider Activity:
Insiders traded TEVA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 0 while 77,421 shares were sold.