Adage Capital Partners GP L.L.C. Cuts Stock Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Teva Pharmaceutical Industries by 59.7% in the 1st quarter, owning 484,000 shares valued at approximately $7.44 million after selling 716,000 shares during that period.
• Institutional investors currently own 54.05% of Teva's stock, with notable increases in holdings from firms like Menora Mivtachim Holdings and Allspring Global Investments.
• Teva reported earnings of $0.66 per share for the last quarter, surpassing analyst expectations, despite a revenue of $4.18 billion that fell short of the anticipated $4.34 billion.

Adage Capital Partners GP L.L.C. trimmed its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 59.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,000 shares of the company's stock after selling 716,000 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Teva Pharmaceutical Industries were worth $7,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Menora Mivtachim Holdings LTD. boosted its position in shares of Teva Pharmaceutical Industries by 2.8% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 29,189,316 shares of the company's stock worth $448,640,000 after acquiring an additional 808,074 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Teva Pharmaceutical Industries by 1.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock worth $404,775,000 after acquiring an additional 300,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Teva Pharmaceutical Industries by 197,885.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock worth $338,989,000 after buying an additional 22,044,407 shares in the last quarter. Janus Henderson Group PLC increased its stake in Teva Pharmaceutical Industries by 40.6% in the 4th quarter. Janus Henderson Group PLC now owns 6,737,625 shares of the company's stock valued at $148,497,000 after purchasing an additional 1,945,688 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Teva Pharmaceutical Industries by 472.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company's stock valued at $96,078,000 after buying an additional 5,186,592 shares during the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $18.94 on Monday. The firm has a market capitalization of $21.72 billion, a PE ratio of -118.35, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72. The firm has a 50-day moving average price of $17.04 and a 200 day moving average price of $16.39. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 2.45. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. The firm had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the firm earned $0.61 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. Research analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of research analyst reports. Truist Financial started coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price on the stock. Wall Street Zen raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective for the company. UBS Group decreased their target price on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. upgraded 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 note on Monday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $24.71.

Insider Transactions at Teva Pharmaceutical Industries

In other news, insider Placid Jover sold 6,053 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $91,763.48. Following the completion of the transaction, the insider directly owned 6,774 shares in the company, valued at approximately $102,693.84. The trade was a 47.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $799,568.72. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

Teva Pharmaceutical Industries 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.

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