Allspring Global Investments Holdings LLC Raises Holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 472.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,283,688 shares of the company's stock after acquiring an additional 5,186,592 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.55% of Teva Pharmaceutical Industries worth $96,078,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms have commented on TEVA. UBS Group decreased their price target on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday. Truist Financial began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a "buy" rating and a $25.00 price target for the company. The Goldman Sachs Group initiated coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price objective on the stock. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Finally, Bank of America upped their price target on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $24.13.

Teva Pharmaceutical Industries Stock Up 0.7%

Shares of TEVA stock traded up $0.12 on Monday, reaching $16.88. 901,868 shares of the stock were exchanged, compared to its average volume of 12,249,386. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of -14.68, a PEG ratio of 0.86 and a beta of 0.60. The business's 50 day moving average price is $16.72 and its 200 day moving average price is $17.40. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the transaction, the executive vice president now directly owns 9,989 shares of the company's stock, valued at approximately $170,012.78. The trade was a 38.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% 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.