Arrowpoint Investment Partners Singapore Pte. Ltd. Acquires Shares of 152,712 Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Arrowpoint Investment Partners Singapore initiated a new position in Teva Pharmaceutical Industries, buying 152,712 shares valued at about $4.77 million. The stake represents roughly 0.7% of Arrowpoint’s holdings and ranks as its 17th largest position.
• Several other institutional investors also increased their Teva holdings, and institutions now own 54.05% of the stock. Notable buyers included Harel Insurance, Migdal Insurance, Norges Bank and others.
• Teva shares were up 4.7% to $34.38, while analysts remain mostly positive with a Moderate Buy consensus and an average target price of $41.78. However, insiders have been selling shares recently, including major sales by Mark Sabag and Christine Fox.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 152,712 shares of the company's stock, valued at approximately $4,766,000. Teva Pharmaceutical Industries makes up about 0.7% of Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. raised its stake in Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company's stock worth $1,402,945,000 after acquiring an additional 7,255,083 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in shares of Teva Pharmaceutical Industries by 1.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company's stock worth $786,190,000 after purchasing an additional 427,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Teva Pharmaceutical Industries by 14.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock worth $1,167,323,000 after purchasing an additional 4,820,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $1,098,060,000. Finally, Rubric Capital Management LP lifted its holdings in Teva Pharmaceutical Industries by 1.8% during the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company's stock valued at $435,760,000 after purchasing an additional 450,000 shares during the last quarter. Institutional investors own 54.05% of the company's stock.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the transaction, the insider directly owned 80,760 shares of the company's stock, valued at approximately $2,825,792.40. This trade represents a 64.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christine Fox sold 21,258 shares of Teva Pharmaceutical Industries stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $35.31, for a total transaction of $750,619.98. Following the sale, the executive vice president directly owned 63,647 shares of the company's stock, valued at $2,247,375.57. This represents a 25.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 421,470 shares of company stock worth $14,570,945. 0.54% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Stock Up 4.7%

NYSE TEVA opened at $34.38 on Friday. The stock has a market capitalization of $39.53 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 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 fifty day moving average of $32.72 and a 200-day moving average of $31.61.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) 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 forecast that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Bank of America upped their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Truist Financial boosted their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Barclays raised their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, UBS Group lifted their price objective on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of "Moderate Buy" and a consensus target price of $41.78.

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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