Assenagon Asset Management S.A. Decreases Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Assenagon Asset Management reduced its Teva Pharmaceutical Industries stake by 38.3% in the first quarter, selling 833,046 shares and ending with 1,339,702 shares worth about $40.35 million.
• Teva saw notable insider selling, including EVP Eliyahu Sharon Kalif and EVP Richard Daniell, with insiders selling 465,931 shares worth about $16.33 million over the last three months.
• Analysts remain mostly positive on TEVA: several firms raised price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $41.78.

Assenagon Asset Management S.A. cut its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 38.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,339,702 shares of the company's stock after selling 833,046 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Teva Pharmaceutical Industries worth $40,352,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TEVA. Global Retirement Partners LLC boosted its stake in Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after acquiring an additional 292 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Teva Pharmaceutical Industries by 2.1% during the 4th quarter. Captrust Financial Advisors now owns 14,715 shares of the company's stock valued at $459,000 after purchasing an additional 302 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Teva Pharmaceutical Industries by 6.3% in the 4th quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company's stock worth $160,000 after purchasing an additional 306 shares in the last quarter. Ethic Inc. boosted its position in shares of Teva Pharmaceutical Industries by 1.8% in the 4th quarter. Ethic Inc. now owns 18,127 shares of the company's stock worth $566,000 after purchasing an additional 325 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Teva Pharmaceutical Industries by 53.8% during the 4th quarter. Allworth Financial LP now owns 941 shares of the company's stock worth $29,000 after buying an additional 329 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total value of $3,633,798.30. Following the sale, the executive vice president owned 65,621 shares in the company, valued at $2,237,676.10. This represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Daniell sold 30,000 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total value of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares of the company's stock, valued at $1,973,727. The trade was a 34.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA opened at $33.68 on Friday. 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 50-day moving average of $33.70 and a two-hundred day moving average of $32.38. The stock has a market cap of $38.73 billion, a P/E ratio of 25.32, a P/E/G ratio of 4.18 and a beta of 0.84. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The business had revenue of $3.98 billion for the quarter. As a group, research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TEVA shares. Barclays upped their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. UBS Group upped their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Company 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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