Arrowstreet Capital Limited Partnership Reduces Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Arrowstreet Capital cut its Teva stake by 72.9% in the first quarter, selling 104,530 shares and retaining 38,900 shares valued at approximately $1.17 million. Institutional investors collectively own 54.05% of Teva.
• Teva shares opened at $34.76, near their 12-month high of $37.35. The company reported quarterly revenue of $4.14 billion and earnings of $0.02 per share, while analysts expect $1.96 in full-year EPS.
• Analyst sentiment remains positive, with nine Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $42.00, despite one recent downgrade to Hold.

Arrowstreet Capital Limited Partnership decreased its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 72.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,900 shares of the company's stock after selling 104,530 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Teva Pharmaceutical Industries were worth $1,172,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TEVA. AQR Capital Management LLC boosted its holdings in Teva Pharmaceutical Industries by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock worth $368,000 after buying an additional 4,732 shares during the period. Focus Partners Wealth lifted its holdings in Teva Pharmaceutical Industries by 4.5% during the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock worth $616,000 after purchasing 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 about $255,000. Flow Traders U.S. LLC bought a new position in Teva Pharmaceutical Industries in the 2nd quarter worth about $238,000. Finally, Cerity Partners LLC grew 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 buying an additional 1,291 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the sale, the executive vice president owned 65,621 shares of the company's stock, valued at $2,237,676.10. The trade was a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock opened at $34.76 on Friday. The firm has a market cap of $39.96 billion, a PE ratio of 57.93, a price-to-earnings-growth ratio of 3.71 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 12-month low of $16.05 and a 12-month high of $37.35. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. The company's fifty day simple moving average is $33.25 and its two-hundred day simple moving average is $32.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%.The business had revenue of $4.14 billion during the quarter. As a group, equities analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. increased their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Bank of America raised their price target on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 9th. 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, Weiss Ratings raised shares of Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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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