Diversify Wealth Management LLC Buys 54,488 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Diversify Wealth Management significantly increased its Teva stake in the first quarter, buying 54,488 additional shares and raising its holdings by 734.3% to 61,908 shares worth about $1.87 million.
• Other institutions also added to or initiated positions, and institutional investors now own 54.05% of Teva’s stock, indicating broad professional interest in the company.
• Analyst sentiment is mixed but generally positive: Teva carries a “Moderate Buy” consensus with an average price target of $41.78, though there was one recent downgrade and insider selling has been notable over the last three months.

Diversify Wealth Management LLC lifted its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 734.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,908 shares of the company's stock after buying an additional 54,488 shares during the period. Diversify Wealth Management LLC's holdings in Teva Pharmaceutical Industries were worth $1,865,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Candriam S.C.A. purchased a new stake in Teva Pharmaceutical Industries in the 1st quarter valued at $14,083,000. Sequoia Financial Advisors LLC lifted its stake in Teva Pharmaceutical Industries by 23.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 169,700 shares of the company's stock valued at $5,111,000 after acquiring an additional 31,756 shares in the last quarter. Equitable Trust Co. purchased a new position in Teva Pharmaceutical Industries during the 1st quarter worth $2,587,000. Hsbc Holdings PLC boosted its holdings in Teva Pharmaceutical Industries by 46.3% during the 1st quarter. Hsbc Holdings PLC now owns 961,140 shares of the company's stock worth $28,789,000 after acquiring an additional 304,334 shares during the last quarter. Finally, Range Financial Group LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the first quarter valued at about $332,000. Institutional investors own 54.05% of the company's stock.

Analyst Ratings Changes

TEVA has been the topic of several analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Bank of America increased their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Piper Sandler restated an "overweight" rating and issued a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Insider Activity

In other news, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries 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 completion of the transaction, the insider owned 80,760 shares in the company, valued at $2,825,792.40. This trade represents a 64.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the completion of the sale, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. This trade represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is currently owned by corporate insiders.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA opened at $31.80 on Wednesday. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The stock's fifty day moving average price is $34.00 and its two-hundred day moving average price is $32.70. The firm has a market cap of $36.56 billion, a PE ratio of 23.91, a PEG ratio of 3.42 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The company had revenue of $3.98 billion during the quarter. On average, equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.97 EPS for the current year.

Teva Pharmaceutical Industries Company 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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