WealthTrust Asset Management LLC Reduces Position in Teva Pharmaceutical Industries Ltd. $TEVA

WealthTrust Asset Management LLC trimmed its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 39.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 24,447 shares of the company’s stock after selling 15,929 shares during the quarter. WealthTrust Asset Management LLC’s holdings in Teva Pharmaceutical Industries were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEVA. AQR Capital Management LLC raised its holdings in Teva Pharmaceutical Industries by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company’s stock valued at $368,000 after acquiring an additional 4,732 shares during the last quarter. Focus Partners Wealth lifted its stake in Teva Pharmaceutical Industries by 4.5% in the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company’s stock worth $616,000 after purchasing an additional 1,739 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Teva Pharmaceutical Industries during the 2nd quarter worth approximately $255,000. Flow Traders U.S. LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 2nd quarter worth approximately $238,000. Finally, Cerity Partners LLC grew its position in shares of Teva Pharmaceutical Industries by 2.9% in the second quarter. Cerity Partners LLC now owns 45,837 shares of the company’s stock valued at $768,000 after purchasing an additional 1,291 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction on Friday, May 1st. The stock was sold at an average price of $34.99, for a total value of $5,044,858.20. Following the sale, the insider owned 80,760 shares in the company, valued at $2,825,792.40. The trade was a 64.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total value of $5,457,268.11. Following the completion of the transaction, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. This trade represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 465,931 shares of company stock valued at $16,332,989 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $32.00 on Friday. The company’s 50-day moving average is $33.76 and its two-hundred day moving average is $32.69. Teva Pharmaceutical Industries Ltd. has a 1-year low of $14.99 and a 1-year high of $37.35. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $36.79 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 3.38 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. Analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

TEVA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Truist Financial upped their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.78.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.