California State Teachers Retirement System Grows Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• California State Teachers Retirement System increased its Teva stake by 3,376.3% in the second quarter, acquiring 42.0 million additional shares and ending with 43.27 million shares worth approximately $1.47 billion, or 3.71% of the company.
• Analysts remain broadly positive, with 10 of 11 analysts rating Teva a Buy and a consensus “Moderate Buy” rating. The average price target is $43.10, with recent targets ranging from $42 to $48.
• Teva shares opened at $37.01, near their 52-week high of $38.37, while the company reported quarterly revenue of $4.14 billion and earnings of $0.02 per share.

California State Teachers Retirement System boosted its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 3,376.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,270,486 shares of the company's stock after acquiring an additional 42,025,742 shares during the period. California State Teachers Retirement System owned 3.71% of Teva Pharmaceutical Industries worth $1,466,004,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Global Retirement Partners LLC boosted its position 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 worth $42,000 after purchasing an additional 292 shares in the last quarter. Captrust Financial Advisors increased its position in Teva Pharmaceutical Industries by 2.1% during the 4th quarter. Captrust Financial Advisors now owns 14,715 shares of the company's stock valued at $459,000 after buying an additional 302 shares in the last quarter. Banque Cantonale Vaudoise increased its position in Teva Pharmaceutical Industries by 6.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company's stock valued at $160,000 after buying an additional 306 shares in the last quarter. Ethic Inc. raised its stake 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 buying an additional 325 shares during the last quarter. Finally, Allworth Financial LP raised its stake 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 buying an additional 329 shares during the last quarter. Institutional investors own 54.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. Barclays increased their price objective on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Piper Sandler lifted their target price on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Leerink Partners began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday. They issued an "outperform" rating and a $45.00 target price on the stock. Finally, Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and an average price target of $43.10.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE TEVA opened at $37.01 on Friday. The firm's 50-day moving average price is $34.91 and its 200-day moving average price is $33.37. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. The company has a market cap of $43.13 billion, a PE ratio of 61.68, a PEG ratio of 4.62 and a beta of 0.87. Teva Pharmaceutical Industries Ltd. has a 52-week low of $18.21 and a 52-week high of $38.37.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. The firm had revenue of $4.14 billion during the quarter. As a group, analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.94 EPS for the current year.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. The company develops, manufactures and markets generic medicines, innovative specialty medicines, biosimilars, over-the-counter products and active pharmaceutical ingredients. Its portfolio serves a broad range of therapeutic areas, including central nervous system disorders, respiratory conditions, migraine, oncology and movement disorders.

Teva's specialty medicines include treatments for conditions such as multiple sclerosis, migraine and tardive dyskinesia, while its generic medicines business supplies products across numerous therapeutic categories and dosage forms.

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