106,238 Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its Teva stake by 37.6% in the third quarter, selling 106,238 shares and retaining 176,512 shares valued at approximately $6.99 million. Institutional investors collectively own 54.05% of TEVA.
• Analyst sentiment remains broadly positive: Teva has an average “Moderate Buy” rating and a consensus price target of $46.08, although ratings range from “strong sell” to “buy.”
• TEVA opened at $39.39, near its 52-week high of $42.02, while insiders sold roughly $14.6 million worth of shares over the past 90 days.

Sterling Capital Management LLC decreased its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,512 shares of the company's stock after selling 106,238 shares during the quarter. Sterling Capital Management LLC's holdings in Teva Pharmaceutical Industries were worth $6,990,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Yousif Capital Management LLC lifted its holdings in Teva Pharmaceutical Industries by 10.1% in the 3rd quarter. Yousif Capital Management LLC now owns 46,708 shares of the company's stock worth $1,850,000 after purchasing an additional 4,285 shares during the last quarter. Root Financial Partners LLC bought a new stake in Teva Pharmaceutical Industries during the third quarter worth approximately $33,000. Magnus Financial Group LLC grew its holdings in Teva Pharmaceutical Industries by 4.1% during the third quarter. Magnus Financial Group LLC now owns 39,596 shares of the company's stock valued at $1,568,000 after purchasing an additional 1,562 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Teva Pharmaceutical Industries by 5.6% during the third quarter. Quadrant Capital Group LLC now owns 24,860 shares of the company's stock valued at $1,025,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Teva Pharmaceutical Industries by 7.6% during the third quarter. Diversify Advisory Services LLC now owns 76,091 shares of the company's stock valued at $3,128,000 after purchasing an additional 5,378 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEVA. Zacks Research lowered shares of Teva Pharmaceutical Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Leerink Partners assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, September 9th. They issued an "outperform" rating and a $45.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, TD Cowen started coverage on shares of Teva Pharmaceutical Industries in a research note on Thursday, October 1st. They issued a "buy" rating and a $55.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of "Moderate Buy" and a consensus price target of $46.08.

Teva Pharmaceutical Industries Trading Down 2.0%

Teva Pharmaceutical Industries stock opened at $39.39 on Friday. Teva Pharmaceutical Industries Ltd. has a 52 week low of $18.88 and a 52 week high of $42.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a market capitalization of $45.90 billion, a PE ratio of 65.65, a PEG ratio of 3.66 and a beta of 0.89. The business's 50-day simple moving average is $38.67 and its 200-day simple moving average is $35.27.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.00 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Roberto Mignone sold 367,600 shares of the business's stock in a transaction on Friday, September 18th. The shares were sold at an average price of $39.06, for a total transaction of $14,358,456.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian Savage sold 7,342 shares of the company's stock in a transaction on Friday, September 18th. The shares were sold at an average price of $38.85, for a total transaction of $285,236.70. Following the transaction, the insider owned 8,500 shares of the company's stock, valued at approximately $330,225. The trade was a 46.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 374,959 shares of company stock worth $14,644,285 in the last ninety days. 0.54% of the stock is currently owned by insiders.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company is one of the world's largest producers of generic medicines and develops, manufactures and distributes prescription products across a broad range of therapeutic areas.

Teva's portfolio includes generic medicines, specialty pharmaceuticals, biosimilars, active pharmaceutical ingredients and over-the-counter products. Its specialty medicines include treatments for neurological and movement disorders, respiratory conditions, migraine and other chronic diseases.

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