Ion Asset Management Ltd. Buys 2,383,500 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Ion Asset Management Ltd. increased its holdings in Teva Pharmaceutical Industries by 6.5%, acquiring an additional 2,383,500 shares, making it the fund's largest investment at 39.1% of its portfolio.
• Several institutional investors have significantly boosted their stakes in Teva, including Harel Insurance Investments, which increased its holdings by 197,885.2% in the first quarter alone.
• Teva Pharmaceutical Industries has received updated price targets from analysts, with Bank of America raising its target from $20.00 to $22.00, signaling a positive outlook on the stock.

Ion Asset Management Ltd. raised its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,033,500 shares of the company's stock after purchasing an additional 2,383,500 shares during the quarter. Teva Pharmaceutical Industries accounts for 39.1% of Ion Asset Management Ltd.'s portfolio, making the stock its largest holding. Ion Asset Management Ltd. owned approximately 3.44% of Teva Pharmaceutical Industries worth $599,945,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in shares of Teva Pharmaceutical Industries by 3.9% in the fourth quarter. Ameriprise Financial Inc. now owns 147,649 shares of the company's stock valued at $3,254,000 after acquiring an additional 5,494 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Teva Pharmaceutical Industries by 14.4% in the fourth quarter. BNP Paribas Financial Markets now owns 1,337,470 shares of the company's stock valued at $29,478,000 after acquiring an additional 168,699 shares during the last quarter. Crestline Management LP bought a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at approximately $1,220,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Teva Pharmaceutical Industries by 2.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 118,394 shares of the company's stock valued at $2,609,000 after acquiring an additional 2,644 shares during the last quarter. Finally, DME Capital Management LP raised its stake in shares of Teva Pharmaceutical Industries by 44.2% in the fourth quarter. DME Capital Management LP now owns 468,550 shares of the company's stock valued at $10,327,000 after acquiring an additional 143,700 shares during the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA traded up $0.46 during mid-day trading on Friday, hitting $18.94. The stock had a trading volume of 7,802,703 shares, compared to its average volume of 9,638,927. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of -118.35, a PEG ratio of 1.12 and a beta of 0.72. The company's 50 day simple moving average is $17.04 and its 200 day simple moving average is $16.39. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results 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 negative net margin of 0.95% and a positive return on equity of 46.10%. The firm had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business's revenue was up .3% on a year-over-year basis. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TEVA shares. Truist Financial started coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They set a "buy" rating and a $25.00 price objective on the stock. UBS Group dropped their target price on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group began coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of "Buy" and a consensus price target of $24.71.

Insider Activity at Teva Pharmaceutical Industries

In related news, insider Placid Jover sold 6,053 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total transaction of $91,763.48. Following the sale, the insider owned 6,774 shares in the company, valued at approximately $102,693.84. This trade represents a 47.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric A. Hughes sold 52,742 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $799,568.72. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

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.