Empowered Funds LLC Increases Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Empowered Funds LLC increased its Teva stake by 1,146.4% during the first quarter, ending with 37,430 shares valued at approximately $1.13 million. Institutional investors collectively own 54.05% of Teva.
• Teva reported quarterly revenue of $4.14 billion and earnings of $0.02 per share. The stock opened at $35.30, near its 52-week high of $37.35.
• Analysts remain broadly positive, with nine Buy ratings and one Hold rating, a “Moderate Buy” consensus, and an average price target of $42.00; however, an executive sold 106,563 shares, reducing their stake by 61.89%.

Empowered Funds LLC raised its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 1,146.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,430 shares of the company's stock after acquiring an additional 34,427 shares during the quarter. Empowered Funds LLC's holdings in Teva Pharmaceutical Industries were worth $1,127,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quantinno Capital Management LP raised its position in shares of Teva Pharmaceutical Industries by 13.3% during the 1st quarter. Quantinno Capital Management LP now owns 216,461 shares of the company's stock worth $6,520,000 after acquiring an additional 25,349 shares in the last quarter. Entropy Technologies LP acquired a new position in Teva Pharmaceutical Industries in the first quarter valued at approximately $381,000. Bridgewater Advisors Inc. purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at approximately $181,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at approximately $5,461,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Teva Pharmaceutical Industries by 9.1% during the first quarter. Public Employees Retirement System of Ohio now owns 84,068 shares of the company's stock worth $2,532,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Buying and Selling

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 sale, the executive vice president owned 65,621 shares in the company, valued at $2,237,676.10. This represents a 61.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Trading Up 1.4%

TEVA opened at $35.30 on Friday. The firm has a market cap of $40.59 billion, a price-to-earnings ratio of 58.83, a price-to-earnings-growth ratio of 3.78 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 52 week low of $16.08 and a 52 week high of $37.35. The business's 50 day moving average is $33.25 and its two-hundred day moving average is $32.82. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on TEVA. Truist Financial boosted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler lifted their price target on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Barclays lifted their price target on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

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.

Want to see what other hedge funds are holding TEVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source