Hennessy Advisors Inc. Sells 74,500 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Hennessy Advisors Inc. lessened its position in Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 652,100 shares of the company's stock after selling 74,500 shares during the period. Hennessy Advisors Inc. owned approximately 0.06% of Teva Pharmaceutical Industries worth $10,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in shares of Teva Pharmaceutical Industries by 0.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company's stock worth $4,964,000 after buying an additional 699 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Teva Pharmaceutical Industries by 2.1% in the 4th quarter. Townsquare Capital LLC now owns 40,162 shares of the company's stock worth $885,000 after buying an additional 812 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Teva Pharmaceutical Industries by 6.7% in the 4th quarter. Metis Global Partners LLC now owns 13,697 shares of the company's stock worth $302,000 after buying an additional 860 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Teva Pharmaceutical Industries by 27.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company's stock worth $96,000 after buying an additional 949 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Teva Pharmaceutical Industries by 9.4% in the 4th quarter. Blair William & Co. IL now owns 11,232 shares of the company's stock worth $248,000 after buying an additional 963 shares in the last quarter. Institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Down 4.0%

Shares of TEVA traded down $0.71 during trading hours on Friday, hitting $17.00. 13,361,575 shares of the company were exchanged, compared to its average volume of 10,186,281. The company has a market cap of $19.49 billion, a PE ratio of -11.72, a PEG ratio of 1.44 and a beta of 0.60. The firm's 50 day moving average is $15.97 and its 200-day moving average is $17.41. Teva Pharmaceutical Industries Limited has a 52 week low of $12.47 and a 52 week high of $22.80. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. The firm's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. On average, equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the completion of the sale, the executive vice president now owns 9,989 shares in the company, valued at $170,012.78. This represents a 38.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TEVA shares. Wall Street Zen raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Truist Financial started coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They set a "buy" rating and a $25.00 price target on the stock. Bank of America upped their price target on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a "buy" rating and a $24.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $24.44.

Teva Pharmaceutical Industries Company Profile

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.