Bank of America Corp DE Has $119.24 Million Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Bank of America reduced its Teva stake by 38.3% in the first quarter, selling 2.45 million shares and retaining 3.96 million shares valued at approximately $119.2 million.
• Institutional investors own 54.05% of Teva, while an executive vice president sold 106,563 shares for about $3.63 million; corporate insiders own 0.54% of the company.
• Analyst sentiment remains favorable, with nine Buy ratings and one Hold rating, a consensus “Moderate Buy” rating, and an average price target of $42 versus the stock’s recent price near $34.76.

Bank of America Corp DE decreased its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,958,814 shares of the company's stock after selling 2,453,994 shares during the quarter. Bank of America Corp DE owned about 0.34% of Teva Pharmaceutical Industries worth $119,239,000 at the end of the most recent quarter.

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

Insider Activity at Teva Pharmaceutical Industries

In related 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 transaction of $3,633,798.30. Following the completion of the transaction, the executive vice president owned 65,621 shares in the company, valued at approximately $2,237,676.10. This represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEVA shares. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Barclays raised their price objective on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Bank of America lifted their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Finally, UBS Group boosted their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA opened at $34.76 on Friday. The firm has a market cap of $39.96 billion, a PE ratio of 57.93, a PEG ratio of 3.71 and a beta of 0.86. 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 1-year low of $16.05 and a 1-year high of $37.35. The company has a fifty day moving average price of $33.25 and a 200 day moving average price of $32.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $4.14 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.96 earnings per share for the current fiscal 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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