BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Teva stake by 61.6% in the fourth quarter, selling 102,926 shares and ending with 64,296 shares worth about $2.0 million.
• Other institutional investors were mixed on Teva, with some adding shares while others initiated new positions; overall, 54.05% of the stock is held by institutions and hedge funds.
• Teva insiders have also been selling, including EVP Richard Daniell and insider Mark Sabag, while analysts remain mostly positive with a Moderate Buy consensus and an average price target of $41.78.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 61.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,296 shares of the company's stock after selling 102,926 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Teva Pharmaceutical Industries were worth $2,007,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TEVA. AQR Capital Management LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock valued at $368,000 after buying an additional 4,732 shares during the period. Focus Partners Wealth lifted its holdings in shares of Teva Pharmaceutical Industries by 4.5% in the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after buying an additional 1,739 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at approximately $255,000. Flow Traders U.S. LLC acquired a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at approximately $238,000. Finally, Cerity Partners LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 2.9% in the 2nd quarter. Cerity Partners LLC now owns 45,837 shares of the company's stock valued at $768,000 after buying an additional 1,291 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Teva Pharmaceutical Industries news, EVP Richard Daniell sold 30,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the sale, the executive vice president owned 55,755 shares of the company's stock, valued at approximately $1,973,727. The trade was a 34.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Sabag sold 144,180 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the sale, the insider directly owned 80,760 shares of the company's stock, valued at approximately $2,825,792.40. This trade represents a 64.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 421,470 shares of company stock valued at $14,570,945 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $33.24 on Tuesday. The company has a market cap of $38.22 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.49 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35. The business has a fifty day simple moving average of $32.89 and a 200-day simple moving average of $31.74.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The business had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Truist Financial raised their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. JPMorgan Chase & Co. lifted their price objective on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Bank of America lifted their price objective on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.78.

About Teva Pharmaceutical Industries

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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