Assenagon Asset Management S.A. Grows Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Assenagon Asset Management increased its Teva stake by 128.1% during the second quarter, ending with 3.06 million shares valued at approximately $103.5 million. Institutional investors collectively own 54.05% of Teva.
• Analyst sentiment is favorable, with nine Buy ratings and one Hold rating. Teva has an average “Moderate Buy” rating and an average price target of $42, above its reported opening price of $35.30.
• Teva reported quarterly revenue of $4.14 billion and earnings of $0.02 per share, while executive vice president Eliyahu Sharon Kalif sold 153,251 shares worth about $5.46 million.

Assenagon Asset Management S.A. lifted its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 128.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,056,017 shares of the company's stock after purchasing an additional 1,716,315 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Teva Pharmaceutical Industries worth $103,538,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc boosted its holdings in Teva Pharmaceutical Industries by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,608,387 shares of the company's stock worth $112,618,000 after acquiring an additional 228,189 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Teva Pharmaceutical Industries by 8.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,082,578 shares of the company's stock valued at $33,506,000 after acquiring an additional 80,106 shares in the last quarter. Norges Bank purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at approximately $1,098,060,000. TD Asset Management Inc raised its position in shares of Teva Pharmaceutical Industries by 47.1% in the 4th quarter. TD Asset Management Inc now owns 369,023 shares of the company's stock valued at $11,517,000 after purchasing an additional 118,075 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Teva Pharmaceutical Industries in the 1st quarter worth approximately $9,126,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $35.61, for a total value of $5,457,268.11. Following the completion of the transaction, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. 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. UBS Group raised their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Truist Financial increased their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.00.

Teva Pharmaceutical Industries Trading Up 1.4%

Shares of TEVA stock opened at $35.30 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. Teva Pharmaceutical Industries Ltd. has a twelve month low of $16.08 and a twelve month high of $37.35. The company's 50-day moving average price is $33.25 and its 200-day moving average price is $32.82. The stock has a market cap of $40.59 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 3.72 and a beta of 0.86.

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

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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