Equitable Trust Co. Invests $2.59 Million in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Equitable Trust Co. bought a new stake in Teva Pharmaceutical Industries in Q1, purchasing 85,895 shares valued at about $2.59 million.
• Institutional interest in TEVA remains high, with hedge funds and other investors holding 54.05% of the stock. Several firms recently increased their positions, including HSBC and Sumitomo Mitsui Trust Group.
• Wall Street sentiment is mostly positive: analysts rate Teva as a Moderate Buy with an average price target of $41.78, while the stock recently traded around $32.82.

Equitable Trust Co. purchased a new stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 85,895 shares of the company's stock, valued at approximately $2,587,000.

A number of other institutional investors have also recently modified their holdings of TEVA. Hsbc Holdings PLC raised its position in Teva Pharmaceutical Industries by 46.3% in the first 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 in the last quarter. Range Financial Group LLC acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at $332,000. Kestra Advisory Services LLC lifted its holdings in Teva Pharmaceutical Industries by 2.2% in the first quarter. Kestra Advisory Services LLC now owns 47,388 shares of the company's stock valued at $1,427,000 after acquiring an additional 1,031 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Teva Pharmaceutical Industries by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,173,839 shares of the company's stock worth $65,476,000 after purchasing an additional 186,447 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in shares of Teva Pharmaceutical Industries by 1.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 332,097 shares of the company's stock worth $9,918,000 after purchasing an additional 3,653 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEVA. Piper Sandler reiterated 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. Bank of America raised 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 raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Truist Financial upped their target price 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Stock Down 0.8%

Teva Pharmaceutical Industries stock opened at $32.82 on Friday. 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 firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 4.04 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $14.99 and a fifty-two week high of $37.35. The stock's fifty day moving average is $34.14 and its two-hundred day moving average is $32.68.

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

Insider Activity

In other Teva Pharmaceutical Industries news, EVP Christine Fox sold 21,258 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $35.31, for a total transaction of $750,619.98. Following the completion of the transaction, the executive vice president directly owned 63,647 shares in the company, valued at approximately $2,247,375.57. This trade represents a 25.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction dated 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 transaction, the insider owned 80,760 shares of the company's stock, valued at approximately $2,825,792.40. The trade was a 64.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 465,931 shares of company stock worth $16,332,989 in the last three months. Company insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries 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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