Jennison Associates LLC Has $43.35 Million Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Jennison Associates LLC trimmed its Teva Pharmaceutical Industries stake by 6.1% in the first quarter, but still held 1.44 million shares worth about $43.35 million.
• Insiders have been selling shares, including EVP Eliyahu Sharon Kalif and CAO Amir Weiss, with total insider sales of 465,931 shares worth $16.3 million over the past 90 days.
• Despite mixed trading activity, Wall Street remains cautiously bullish: Teva has a consensus “Moderate Buy” rating and an average target price of $41.78, above its recent $30.96 share price.

Jennison Associates LLC cut its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,439,151 shares of the company's stock after selling 94,220 shares during the quarter. Jennison Associates LLC owned 0.13% of Teva Pharmaceutical Industries worth $43,347,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in Teva Pharmaceutical Industries by 2.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company's stock worth $1,384,216,000 after buying an additional 1,004,941 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Teva Pharmaceutical Industries by 18.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company's stock valued at $1,171,378,000 after acquiring an additional 5,917,423 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Teva Pharmaceutical Industries by 14.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock worth $1,167,323,000 after purchasing an additional 4,820,000 shares during the period. Norges Bank bought a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth $1,098,060,000. Finally, Rubric Capital Management LP increased its holdings in Teva Pharmaceutical Industries by 1.8% in the second quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company's stock valued at $435,760,000 after purchasing an additional 450,000 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $35.61, for a total value of $5,457,268.11. Following the transaction, the executive vice president owned 172,184 shares in the company, valued at $6,131,472.24. The trade was a 47.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total value of $384,444.00. Following the sale, the chief accounting officer directly owned 20,016 shares of the company's stock, valued at $720,576. The trade was a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 465,931 shares of company stock worth $16,332,989. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $30.96 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The stock has a market cap of $35.60 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.38 and a beta of 0.86. The stock's fifty day simple moving average is $33.66 and its two-hundred day simple moving average is $32.70. Teva Pharmaceutical Industries Ltd. has a 1-year low of $14.99 and a 1-year high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The company had revenue of $3.98 billion during the quarter. As a group, analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

TEVA has been the topic of several recent research reports. Barclays lifted their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Bank of America raised their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Wall Street Zen lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research report on Friday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.78.

About Teva Pharmaceutical Industries

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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