Assenagon Asset Management S.A. Purchases 4,824,247 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Assenagon Asset Management S.A. lifted its stake in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 416.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,983,928 shares of the company's stock after acquiring an additional 4,824,247 shares during the quarter. Assenagon Asset Management S.A. owned about 0.53% of Teva Pharmaceutical Industries worth $91,973,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Pinnbrook Capital Management LP bought a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $4,966,000. Asset Management One Co. Ltd. boosted its stake in shares of Teva Pharmaceutical Industries by 14.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company's stock worth $10,414,000 after acquiring an additional 58,413 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Teva Pharmaceutical Industries by 2,018.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,097,096 shares of the company's stock worth $23,368,000 after acquiring an additional 1,045,305 shares in the last quarter. Capital Wealth Planning LLC boosted its stake in shares of Teva Pharmaceutical Industries by 8.8% during the 4th quarter. Capital Wealth Planning LLC now owns 246,601 shares of the company's stock worth $5,435,000 after acquiring an additional 20,016 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $38,914,000. Institutional investors own 54.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TEVA shares. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Bank of America increased their target price on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price target for the company. Wall Street Zen raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Truist Financial assumed coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 price target for the company. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $24.44.

Teva Pharmaceutical Industries Price Performance

Shares of TEVA stock traded up $0.35 during trading hours on Thursday, hitting $17.67. The company had a trading volume of 8,361,247 shares, compared to its average volume of 10,177,720. Teva Pharmaceutical Industries Limited has a 12 month low of $12.47 and a 12 month high of $22.80. The firm has a market capitalization of $20.27 billion, a price-to-earnings ratio of -12.19, a PEG ratio of 1.44 and a beta of 0.60. The firm's fifty day moving average is $15.97 and its 200 day moving average is $17.41. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.48 EPS. The company's revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the sale, the executive vice president now directly owns 9,989 shares in the company, valued at $170,012.78. This represents a 38.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by corporate insiders.

About Teva Pharmaceutical Industries

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.