Geode Capital Management LLC Boosts Stock Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Geode Capital Management increased its Teva stake by 3.4% in the fourth quarter, buying 336,629 additional shares and bringing its total holding to 10.33 million shares valued at about $320.3 million.
• Institutional ownership remains heavy, with several other hedge funds and investment firms also boosting positions; the article says institutional investors now own 54.05% of Teva’s stock.
• Teva’s shares have been trading near 52-week highs, and analysts remain largely upbeat after recent earnings of $0.53 per share and revenue of $3.98 billion, with an average rating of Moderate Buy and a target price of $41.78.

Geode Capital Management LLC raised its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,326,504 shares of the company's stock after acquiring an additional 336,629 shares during the period. Geode Capital Management LLC owned approximately 0.90% of Teva Pharmaceutical Industries worth $320,295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Teva Pharmaceutical Industries by 19.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company's stock worth $1,402,945,000 after buying an additional 7,255,083 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its stake in shares of Teva Pharmaceutical Industries by 1.1% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company's stock worth $786,190,000 after buying an additional 427,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Teva Pharmaceutical Industries by 14.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock worth $1,167,323,000 after buying an additional 4,820,000 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Teva Pharmaceutical Industries by 1.8% during the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company's stock worth $435,760,000 after buying an additional 450,000 shares in the last quarter. Finally, Duquesne Family Office LLC raised its stake in shares of Teva Pharmaceutical Industries by 3.9% during the 3rd quarter. Duquesne Family Office LLC now owns 16,593,935 shares of the company's stock worth $335,197,000 after buying an additional 625,000 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $34.51 on Tuesday. The business's fifty day moving average price is $32.45 and its two-hundred day moving average price is $31.45. The stock has a market cap of $39.68 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 3.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The firm had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. On average, analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. The Goldman Sachs Group increased their target price on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Barclays increased their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Teva Pharmaceutical Industries from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, 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 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 currently has an average rating of "Moderate Buy" and an average target price of $41.78.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the sale, the executive vice president owned 172,184 shares in the company, valued at $6,131,472.24. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Sabag sold 144,180 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $34.99, for a total value of $5,044,858.20. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 491,524 shares of company stock valued at $16,789,555. 0.54% of the stock is currently owned by insiders.

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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