Assenagon Asset Management S.A. Purchases 2,462,064 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Assenagon Asset Management S.A. increased its stake in Teva Pharmaceutical Industries by 41.1%, acquiring an additional 2,462,064 shares and totaling 8,445,992 shares worth approximately $141.6 million.
• Teva received several analyst upgrades, with a consensus rating of "Buy" and a target price averaging $24.71, signaling positive growth expectations based on recent earnings performance.
• In recent insider transactions, executives sold shares at an average price of $15.16, decreasing their holdings, which has raised investor attention regarding insider confidence in the company.

Assenagon Asset Management S.A. increased its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 41.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,445,992 shares of the company's stock after acquiring an additional 2,462,064 shares during the period. Assenagon Asset Management S.A. owned about 0.74% of Teva Pharmaceutical Industries worth $141,555,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Duquesne Family Office LLC grew its holdings in shares of Teva Pharmaceutical Industries by 65.4% in the first quarter. Duquesne Family Office LLC now owns 14,879,750 shares of the company's stock worth $228,702,000 after acquiring an additional 5,882,350 shares during the period. Amundi grew its holdings in shares of Teva Pharmaceutical Industries by 18.5% in the first quarter. Amundi now owns 678,758 shares of the company's stock worth $10,080,000 after acquiring an additional 105,846 shares during the period. Jump Financial LLC grew its holdings in shares of Teva Pharmaceutical Industries by 172.1% in the first quarter. Jump Financial LLC now owns 1,325,526 shares of the company's stock worth $20,373,000 after acquiring an additional 838,423 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Teva Pharmaceutical Industries by 5.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,504,007 shares of the company's stock worth $38,487,000 after acquiring an additional 134,705 shares during the period. Finally, Financial Sense Advisors Inc. lifted its position in Teva Pharmaceutical Industries by 63.5% during the first quarter. Financial Sense Advisors Inc. now owns 405,421 shares of the company's stock valued at $6,231,000 after purchasing an additional 157,421 shares in the last quarter. Institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock traded down $0.07 during trading hours on Friday, hitting $18.38. The company's stock had a trading volume of 7,435,534 shares, compared to its average volume of 9,410,089. The business has a 50 day moving average price of $17.51 and a two-hundred day moving average price of $16.58. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $22.80. The company has a market cap of $21.08 billion, a PE ratio of -114.88, a PEG ratio of 1.07 and a beta of 0.72. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.02. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. Teva Pharmaceutical Industries had a positive return on equity of 46.10% and a negative net margin of 0.95%.The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Placid Jover sold 6,053 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $91,763.48. Following the sale, the insider directly owned 6,774 shares in the company, 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 link. Also, insider Eric A. Hughes sold 52,742 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $799,568.72. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TEVA shares. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Truist Financial started coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They set a "buy" rating and a $25.00 target price on the stock. 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 target price on the stock. Finally, UBS Group lowered their target price on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries 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.