Glenmede Trust Co. NA Acquires 44,273 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Glenmede Trust increased its Teva stake by 486.3% in the first quarter, purchasing 44,273 additional shares for a total holding of 53,377 shares valued at approximately $1.61 million. Institutional investors collectively own 54.05% of Teva.
• Analysts remain broadly bullish: nine analysts rate Teva a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a $42 average price target.
• Teva EVP Eliyahu Sharon Kalif sold 106,563 shares for roughly $3.63 million, reducing his direct ownership by 61.89%. Teva shares opened at $34.73, while the company reported quarterly revenue of $4.14 billion and EPS of $0.02.

Glenmede Trust Co. NA raised its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 486.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,377 shares of the company's stock after buying an additional 44,273 shares during the quarter. Glenmede Trust Co. NA's holdings in Teva Pharmaceutical Industries were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Teva Pharmaceutical Industries by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock valued at $368,000 after acquiring an additional 4,732 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Teva Pharmaceutical Industries by 4.5% during the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after purchasing an additional 1,739 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $255,000. Flow Traders U.S. LLC purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at about $238,000. Finally, Cerity Partners LLC increased its holdings in shares of Teva Pharmaceutical Industries by 2.9% in the second quarter. Cerity Partners LLC now owns 45,837 shares of the company's stock worth $768,000 after purchasing an additional 1,291 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insiders Place Their Bets

In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $34.10, for a total value of $3,633,798.30. Following the completion of the sale, the executive vice president directly owned 65,621 shares in the company, valued at $2,237,676.10. This trade represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TEVA. Truist Financial increased their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Barclays lifted their price objective 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. UBS Group increased their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Piper Sandler boosted 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 report on Tuesday, July 28th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Teva Pharmaceutical Industries Trading Up 0.9%

Shares of NYSE TEVA opened at $34.73 on Thursday. The business's 50 day moving average is $33.24 and its two-hundred day moving average is $32.78. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.88 and a quick ratio of 0.67. Teva Pharmaceutical Industries Ltd. has a 1-year low of $15.75 and a 1-year high of $37.35. The stock has a market capitalization of $39.94 billion, a P/E ratio of 57.89, a PEG ratio of 3.68 and a beta of 0.86.

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 (EPS) 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%. As a group, research analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

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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