KLP Kapitalforvaltning AS Lowers Holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

KLP Kapitalforvaltning AS cut its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 11.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 359,059 shares of the company's stock after selling 48,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Teva Pharmaceutical Industries were worth $5,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oarsman Capital Inc. bought a new stake in Teva Pharmaceutical Industries during the 4th quarter valued at $29,000. Golden State Wealth Management LLC bought a new position in shares of Teva Pharmaceutical Industries in the 1st quarter worth $39,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Teva Pharmaceutical Industries in the 4th quarter worth $44,000. Compagnie Lombard Odier SCmA bought a new position in shares of Teva Pharmaceutical Industries in the 1st quarter worth $54,000. Finally, Versant Capital Management Inc raised its position in shares of Teva Pharmaceutical Industries by 437.8% in the 1st quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock worth $81,000 after acquiring an additional 4,312 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the transaction, the executive vice president directly owned 9,989 shares of the company's stock, valued at approximately $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.49% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock traded up $0.20 during mid-day trading on Friday, reaching $16.53. The stock had a trading volume of 9,205,241 shares, compared to its average volume of 9,534,330. The business's fifty day moving average is $16.93 and its 200-day moving average is $16.80. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of -14.38, a PEG ratio of 0.96 and a beta of 0.60. Teva Pharmaceutical Industries Ltd. has a 1-year low of $12.47 and a 1-year high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. The company's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. On average, research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TEVA. The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $24.00 price target for the company. Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. 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 price target for the company. Finally, UBS Group reduced their price target on 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. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Buy" and an average price target of $24.71.

About Teva Pharmaceutical Industries

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.