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

Allspring Global Investments Holdings LLC raised its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 472.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,283,688 shares of the company's stock after buying 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.

Several other large investors have also bought and sold shares of TEVA. Principal Financial Group Inc. boosted its holdings in shares of Teva Pharmaceutical Industries by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 92,471 shares of the company's stock valued at $2,038,000 after acquiring an additional 2,752 shares during the last quarter. IFP Advisors Inc boosted its stake in Teva Pharmaceutical Industries by 96.1% in the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock worth $88,000 after purchasing an additional 1,960 shares during the period. Bank of New York Mellon Corp lifted its stake in Teva Pharmaceutical Industries by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,621,344 shares of the company's stock worth $35,734,000 after purchasing an additional 67,571 shares in the last quarter. QRG Capital Management Inc. increased its stake in Teva Pharmaceutical Industries by 3.9% in the 4th quarter. QRG Capital Management Inc. now owns 148,138 shares of the company's stock worth $3,265,000 after acquiring an additional 5,556 shares during the last quarter. Finally, Williamson Legacy Group LLC raised its stake in Teva Pharmaceutical Industries by 1.7% during the fourth quarter. Williamson Legacy Group LLC now owns 57,824 shares of the company's stock valued at $1,274,000 after purchasing an additional 979 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA traded up $0.43 during trading hours on Wednesday, reaching $17.07. 10,637,872 shares of the company were exchanged, compared to its average volume of 12,270,762. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80. The stock's 50-day moving average is $16.84 and its 200-day moving average 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. The firm has a market cap of $19.58 billion, a PE ratio of -14.84, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60.

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

Wall Street Analyst Weigh In

TEVA has been the topic of a number of research analyst reports. 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 started coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price target on the stock. Truist Financial started coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 target price on the stock. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Finally, UBS Group decreased their price target 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. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $24.13.

Insider Transactions at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 9,989 shares of the company's stock, valued at approximately $170,012.78. The trade was a 38.32% decrease in their ownership of the stock. 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.

About Teva Pharmaceutical Industries

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.