AustralianSuper Pty Ltd Sells 660,473 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

AustralianSuper Pty Ltd lessened its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,562,222 shares of the company's stock after selling 660,473 shares during the period. AustralianSuper Pty Ltd owned about 0.76% of Teva Pharmaceutical Industries worth $131,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. increased its stake in 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 valued at $38,487,000 after acquiring an additional 134,705 shares during the last quarter. GAMMA Investing LLC lifted its stake in Teva Pharmaceutical Industries by 804.7% during the first quarter. GAMMA Investing LLC now owns 67,474 shares of the company's stock worth $1,037,000 after purchasing an additional 60,016 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Teva Pharmaceutical Industries by 1.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock valued at $404,775,000 after buying an additional 300,000 shares in the last quarter. Norges Bank acquired a new stake in Teva Pharmaceutical Industries in the fourth quarter valued at approximately $38,550,000. Finally, BlackBarn Capital Partners LP boosted its position in Teva Pharmaceutical Industries by 107.1% in the fourth quarter. BlackBarn Capital Partners LP now owns 1,050,000 shares of the company's stock valued at $23,142,000 after buying an additional 543,029 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group cut their target price on shares of 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. The Goldman Sachs Group assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $24.00 target price on the stock. Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Truist Financial started coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 price target for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $24.71.

Teva Pharmaceutical Industries Stock Down 0.6%

TEVA traded down $0.11 during midday trading on Tuesday, hitting $16.21. The company had a trading volume of 3,408,335 shares, compared to its average volume of 10,301,241. Teva Pharmaceutical Industries Ltd. has a 52 week low of $12.47 and a 52 week high of $22.80. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 0.94 and a beta of 0.60. The stock's 50 day moving average price is $16.98 and its 200 day moving average price is $16.87.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The business's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, research analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total transaction of $105,626.12. Following the transaction, the executive vice president directly owned 9,989 shares in the company, valued at approximately $170,012.78. The trade was a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Company 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.