Elevation Point Wealth Partners LLC Makes New $1.33 Million Investment in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Elevation Point Wealth Partners opened a new position in Teva Pharmaceutical Industries, buying 44,201 shares valued at about $1.33 million in the first quarter.
• Several other institutional investors also increased or initiated stakes in Teva, and 54.05% of the stock is now held by institutions.
• Insiders have been selling shares recently, including major sales by Mark Sabag and Amir Weiss, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $41.78.

Elevation Point Wealth Partners LLC purchased a new stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,201 shares of the company's stock, valued at approximately $1,331,000.

A number of other hedge funds have also modified their holdings of the company. Keybank National Association OH raised its position in shares of Teva Pharmaceutical Industries by 119.6% during the 1st quarter. Keybank National Association OH now owns 18,394 shares of the company's stock valued at $554,000 after purchasing an additional 10,019 shares during the period. IFM Investors Pty Ltd boosted its holdings in Teva Pharmaceutical Industries by 2.8% in the 1st quarter. IFM Investors Pty Ltd now owns 244,364 shares of the company's stock worth $7,360,000 after buying an additional 6,639 shares during the period. iA Global Asset Management Inc. boosted its holdings in Teva Pharmaceutical Industries by 43.8% in the 1st quarter. iA Global Asset Management Inc. now owns 299,035 shares of the company's stock worth $9,007,000 after buying an additional 91,026 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its stake in Teva Pharmaceutical Industries by 0.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 257,909 shares of the company's stock worth $7,768,000 after buying an additional 1,501 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in Teva Pharmaceutical Industries in the 1st quarter worth $248,000. 54.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $34.99, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amir Weiss sold 10,679 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $36.00, for a total value of $384,444.00. Following the completion of the sale, the chief accounting officer directly owned 20,016 shares in the company, valued at approximately $720,576. The trade was a 34.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 465,931 shares of company stock valued at $16,332,989 in the last ninety days. Company insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE TEVA opened at $34.55 on Monday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The company has a market cap of $39.73 billion, a P/E ratio of 25.98, a P/E/G ratio of 4.23 and a beta of 0.86. The firm's fifty day moving average is $33.96 and its two-hundred day moving average is $32.57. Teva Pharmaceutical Industries Ltd. has a 52-week low of $14.99 and a 52-week high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released 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 net margin of 9.01% and a return on equity of 43.53%. As a group, analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.97 EPS for the current fiscal year.

Analyst Ratings Changes

TEVA has been the topic of a number of recent analyst reports. Bank of America raised their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 9th. JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Wall Street Zen raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Barclays lifted their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Piper Sandler restated an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of "Moderate Buy" and a consensus price target 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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