Allianz Asset Management GmbH Has $10.44 Million Stock Holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• Allianz Asset Management GmbH increased its stake in Teva Pharmaceutical Industries by 12.2%, acquiring 73,601 additional shares, bringing their total to 678,992 shares worth $10,436,000.
• Teva's shares opened at $16.53, with a market capitalization of nearly $19 billion and reported quarterly earnings of $0.52 per share, exceeding estimates.
• Major brokerages have upgraded Teva's stock ratings, with Financial institutions giving it an average target price of $24.71, indicating a strong outlook for the company.

Allianz Asset Management GmbH raised its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 12.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,992 shares of the company's stock after acquiring an additional 73,601 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of Teva Pharmaceutical Industries worth $10,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oarsman Capital Inc. acquired a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth $29,000. Golden State Wealth Management LLC purchased a new position in Teva Pharmaceutical Industries during the 1st quarter valued at about $39,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $44,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Teva Pharmaceutical Industries in the first quarter worth approximately $54,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Teva Pharmaceutical Industries by 437.8% during the first quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock worth $81,000 after purchasing an additional 4,312 shares during the period. Institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Trading Up 1.2%

Shares of NYSE:TEVA traded up $0.20 during mid-day trading on Friday, reaching $16.53. The stock had a trading volume of 9,205,241 shares, compared to its average volume of 9,547,487. The firm has a market cap of $18.96 billion, a PE ratio of -14.38, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. The firm has a 50 day simple moving average of $16.93 and a two-hundred day simple moving average of $16.77. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business posted $0.48 earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the completion of the sale, the executive vice president directly owned 9,989 shares of the company's stock, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

TEVA has been the topic of a number of recent analyst reports. Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group decreased their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Saturday. Finally, The Goldman Sachs Group initiated coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They set a "buy" rating and a $24.00 target price for the company. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $24.71.

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.