ARK Investment Management LLC Increases Stake in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• ARK Investment Management LLC increased its stake in Teva Pharmaceutical Industries by 33.9%, owning 120,874 shares valued at approximately $2,026,000 after buying an additional 30,621 shares in the second quarter.
• Multiple analysts have raised their price targets for Teva, with JPMorgan and UBS now setting their objective at $26.00 and maintaining a positive outlook with ratings of "overweight" and "buy" respectively.
• Teva's quarterly earnings surpassed expectations, reporting $0.66 earnings per share, while its guidance for FY 2025 is projected at EPS of 2.500-2.600.

ARK Investment Management LLC lifted its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 33.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,874 shares of the company's stock after buying an additional 30,621 shares during the quarter. ARK Investment Management LLC's holdings in Teva Pharmaceutical Industries were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TEVA. Golden State Wealth Management LLC purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at about $39,000. New Age Alpha Advisors LLC purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter valued at about $43,000. Sound Income Strategies LLC grew its holdings in Teva Pharmaceutical Industries by 3,715.8% in the second quarter. Sound Income Strategies LLC now owns 2,900 shares of the company's stock worth $49,000 after purchasing an additional 2,824 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Teva Pharmaceutical Industries in the first quarter worth about $74,000. Finally, Brooklyn Investment Group grew its holdings in Teva Pharmaceutical Industries by 403.4% in the first quarter. Brooklyn Investment Group now owns 5,009 shares of the company's stock worth $77,000 after purchasing an additional 4,014 shares during the period. Hedge funds and other institutional investors own 54.05% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TEVA shares. JPMorgan Chase & Co. upped their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. UBS Group upped their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $25.57.

Insiders Place Their Bets

In other news, insider Placid Jover sold 6,053 shares of the stock in a transaction 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 sale, the insider directly owned 6,774 shares of the company's stock, valued at $102,693.84. This represents a 47.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of the stock in a transaction 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. Corporate insiders own 0.49% of the company's stock.

Teva Pharmaceutical Industries Stock Down 0.3%

TEVA opened at $18.93 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. Teva Pharmaceutical Industries Ltd. has a 1-year low of $12.47 and a 1-year high of $22.80. The company has a market capitalization of $21.72 billion, a PE ratio of -118.34, a PEG ratio of 1.04 and a beta of 0.71. The firm's 50 day simple moving average is $19.03 and its two-hundred day simple moving average is $17.19.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the firm earned $0.61 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, equities analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

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.

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