Gateway Investment Advisers LLC Grows Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Gateway Investment Advisers LLC significantly increased its stake in Teva Pharmaceutical Industries by 123.8% during the 2nd quarter, acquiring an additional 60,308 shares for a total worth of $1,827,000.
• Teva's stock has experienced a decline of 1.7% and is currently trading at $18.37, with a market cap of $21.07 billion and a P/E ratio of -114.81.
• Insider trades reveal that key executives, including Eric A. Hughes, have sold shares, with Hughes disposing of over 52,000 shares valued at approximately $799,568.

Gateway Investment Advisers LLC grew its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 123.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,024 shares of the company's stock after purchasing an additional 60,308 shares during the period. Gateway Investment Advisers LLC's holdings in Teva Pharmaceutical Industries were worth $1,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Teva Pharmaceutical Industries by 197,885.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock valued at $338,989,000 after buying an additional 22,044,407 shares during the period. Duquesne Family Office LLC lifted its stake in shares of Teva Pharmaceutical Industries by 65.4% in the 1st quarter. Duquesne Family Office LLC now owns 14,879,750 shares of the company's stock worth $228,702,000 after acquiring an additional 5,882,350 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Teva Pharmaceutical Industries by 472.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company's stock valued at $96,078,000 after acquiring an additional 5,186,592 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Teva Pharmaceutical Industries by 416.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company's stock worth $91,973,000 after buying an additional 4,824,247 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Teva Pharmaceutical Industries in the 1st quarter worth about $40,827,000. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insiders Place Their Bets

In other news, insider Placid Jover sold 6,053 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $15.16, for a total value of $91,763.48. Following the transaction, the insider directly owned 6,774 shares in the company, valued at $102,693.84. This trade represents a 47.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $799,568.72. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a "buy" rating and a $24.00 price target for the company. Truist Financial initiated coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 price target for the company. Finally, Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of "Buy" and an average price target of $24.71.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA traded down $0.07 during trading on Friday, reaching $18.38. The company had a trading volume of 7,435,534 shares, compared to its average volume of 9,410,089. The stock has a market capitalization of $21.08 billion, a P/E ratio of -114.88, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. The company has a fifty day moving average of $17.51 and a two-hundred day moving average of $16.58. Teva Pharmaceutical Industries Ltd. has a 12 month low of $12.47 and a 12 month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company's quarterly revenue was up .3% compared to the same quarter last year. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.