Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Shares Sold by iA Global Asset Management Inc.

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. trimmed its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,340 shares of the company's stock after selling 160,779 shares during the period. iA Global Asset Management Inc.'s holdings in Teva Pharmaceutical Industries were worth $2,987,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 9,989 shares of the company's stock, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Placid Jover sold 6,053 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $102,693.84. The trade was a 47.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,001 shares of company stock valued at $996,958. Corporate insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TEVA shares. The Goldman Sachs Group started coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective on the stock. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Bank of America raised their target price 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. Finally, JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and raised their target price for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $24.71.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock traded up $0.05 during trading hours on Friday, reaching $16.34. 9,533,492 shares of the company's stock were exchanged, compared to its average volume of 13,038,851. The company has a market cap of $18.74 billion, a P/E ratio of -102.13, a price-to-earnings-growth ratio of 0.97 and a beta of 0.62. The company's 50 day moving average is $16.72 and its two-hundred day moving average is $16.39. Teva Pharmaceutical Industries Ltd. has a 1 year low of $12.47 and a 1 year high of $22.80. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.06 and a quick ratio of 0.77.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, beating 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 firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business posted $0.61 EPS. Teva Pharmaceutical Industries's quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Teva Pharmaceutical Industries 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.