Allspring Global Investments Holdings LLC Sells 159,581 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Allspring Global Investments trimmed its Teva Pharmaceutical Industries stake by 8.7% in the first quarter, selling 159,581 shares and ending with 1,664,546 shares valued at about $50.4 million.
• Teva insiders have been selling shares, including EVP Eliyahu Sharon Kalif and insider Mark Sabag, with total insider sales over the last three months reaching 465,931 shares worth about $16.3 million.
• Analyst sentiment remains mostly positive: nine analysts rate Teva a Buy, one rates it Sell, and the consensus target price is about $41.78, above the stock’s Friday opening price of $32.00.

Allspring Global Investments Holdings LLC lessened its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,664,546 shares of the company's stock after selling 159,581 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of Teva Pharmaceutical Industries worth $50,353,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TEVA. AQR Capital Management LLC lifted its stake in Teva Pharmaceutical Industries by 24.6% in the first quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock valued at $368,000 after purchasing an additional 4,732 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Teva Pharmaceutical Industries by 4.5% during the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after buying an additional 1,739 shares in the last quarter. Franklin Resources Inc. bought a new position in Teva Pharmaceutical Industries in the 2nd quarter worth approximately $255,000. Flow Traders U.S. LLC purchased a new position in Teva Pharmaceutical Industries in the 2nd quarter valued at approximately $238,000. Finally, Cerity Partners LLC raised its holdings in Teva Pharmaceutical Industries by 2.9% during the 2nd quarter. Cerity Partners LLC now owns 45,837 shares of the company's stock valued at $768,000 after acquiring an additional 1,291 shares during the period. 54.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the transaction, the executive vice president directly owned 172,184 shares in the company, valued at $6,131,472.24. This trade represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the transaction, the insider directly owned 80,760 shares in the company, valued at $2,825,792.40. This trade represents a 64.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America raised their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Truist Financial upped their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Barclays boosted their price target on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

Teva Pharmaceutical Industries stock opened at $32.00 on Friday. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $14.99 and a fifty-two week high of $37.35. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The stock has a market cap of $36.79 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 3.38 and a beta of 0.86. The firm's fifty day moving average price is $33.76 and its 200-day moving average price is $32.69.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. The business had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. On average, equities research analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current fiscal year.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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