iA Global Asset Management Inc. Sells 160,779 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• iA Global Asset Management Inc. reduced its position in Teva Pharmaceutical Industries by 45.3%, selling 160,779 shares and bringing their total holdings to 194,340 shares valued at approximately $2.99 million.
• Several institutional investors have increased their stakes in Teva, with Orion Portfolio Solutions LLC boosting its holdings by 11.9%, and Russell Investments Group Ltd. increasing its position by 33.8% during the fourth quarter.
• Research analysts have varying price targets for Teva, with Goldman Sachs initiating coverage with a "buy" rating and a price target of $24.00, while UBS Group decreased their target to $23.00.

iA Global Asset Management Inc. lessened its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 45.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,340 shares of the company's stock after selling 160,779 shares during the quarter. iA Global Asset Management Inc.'s holdings in Teva Pharmaceutical Industries were worth $2,987,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TEVA. New Age Alpha Advisors LLC purchased a new stake in Teva Pharmaceutical Industries in the first quarter worth approximately $43,000. Factorial Partners LLC grew its position in shares of Teva Pharmaceutical Industries by 0.3% in the 1st quarter. Factorial Partners LLC now owns 333,000 shares of the company's stock worth $5,118,000 after buying an additional 1,000 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Teva Pharmaceutical Industries by 67.2% during the first quarter. Blair William & Co. IL now owns 18,782 shares of the company's stock valued at $289,000 after buying an additional 7,550 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Teva Pharmaceutical Industries by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 59,647 shares of the company's stock valued at $917,000 after acquiring an additional 1,578 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Teva Pharmaceutical Industries by 6.5% in the first quarter. US Bancorp DE now owns 10,812 shares of the company's stock worth $166,000 after acquiring an additional 656 shares during the period. 54.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Eric A. Hughes sold 52,742 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $15.16, for a total value of $799,568.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Shields sold 6,206 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total transaction of $105,626.12. Following the sale, the executive vice president directly owned 9,989 shares in the company, valued at $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,001 shares of company stock worth $996,958 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TEVA has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $21.00 to $23.00 in a research note on Monday, May 12th. UBS Group lowered their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Truist Financial began coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries Stock Up 0.3%

TEVA traded up $0.05 during midday trading on Friday, reaching $16.34. The company's stock had a trading volume of 9,533,492 shares, compared to its average volume of 13,038,851. Teva Pharmaceutical Industries Ltd. has a 1 year low of $12.47 and a 1 year high of $22.80. The stock's 50-day moving average is $16.72 and its 200-day moving average is $16.43. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of -102.13, a PEG ratio of 0.96 and a beta of 0.62. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45.

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

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.