Wellington Shields & Co. LLC Acquires Shares of 36,300 Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• Wellington Shields & Co. LLC acquired 36,300 shares of Teva Pharmaceutical Industries, amounting to around $558,000, marking a significant institutional investment in the company.
• Teva's recent earnings report showed an EPS of $0.52, surpassing expectations, with a revenue of $3.89 billion, reflecting a year-over-year increase of 1.9%.
• Financial analysts generally hold a positive outlook on Teva, with a consensus rating of "Buy" and an average price target of $24.71 for the stock.

Wellington Shields & Co. LLC purchased a new position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 36,300 shares of the company's stock, valued at approximately $558,000.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its holdings in Teva Pharmaceutical Industries by 9.9% in the 4th quarter. American Century Companies Inc. now owns 216,523 shares of the company's stock valued at $4,772,000 after buying an additional 19,442 shares during the period. Korea Investment CORP raised its holdings in Teva Pharmaceutical Industries by 72.0% in the 4th quarter. Korea Investment CORP now owns 381,955 shares of the company's stock valued at $8,418,000 after buying an additional 159,899 shares during the period. Blair William & Co. IL raised its holdings in Teva Pharmaceutical Industries by 9.4% in the 4th quarter. Blair William & Co. IL now owns 11,232 shares of the company's stock valued at $248,000 after buying an additional 963 shares during the period. Norges Bank purchased a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at about $38,550,000. Finally, Pictet Asset Management Holding SA raised its holdings in Teva Pharmaceutical Industries by 9.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 598,487 shares of the company's stock valued at $13,191,000 after buying an additional 52,938 shares during the period. Hedge funds and other institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Down 0.5%

Shares of Teva Pharmaceutical Industries stock traded down $0.07 on Friday, reaching $15.38. 14,134,278 shares of the company were exchanged, compared to its average volume of 12,253,167. Teva Pharmaceutical Industries Ltd. has a 1-year low of $12.47 and a 1-year high of $22.80. The company has a market cap of $17.64 billion, a P/E ratio of -96.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 0.74. The stock's 50 day moving average price is $16.89 and its 200-day moving average price is $16.67.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.02. Teva Pharmaceutical Industries had a positive return on equity of 47.68% and a negative net margin of 0.95%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEVA. Hsbc Global Res upgraded shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. The Goldman Sachs Group began coverage on shares of Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective on the stock. Truist Financial began coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price for the company. Bank of America lifted their target price on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $24.71.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the transaction, the executive vice president directly owned 9,989 shares of the company's stock, valued at $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.49% of the company's stock.

Teva Pharmaceutical Industries Company Profile

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.