Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Takes $33.80 Million Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired 997,617 Teva shares worth approximately $33.8 million, making Teva its fourth-largest holding and about 4.2% of its portfolio.
• Institutional interest remains significant, with hedge funds and other institutional investors owning 54.05% of Teva. Several major investors, including California State Teachers Retirement System and WCM Investment Management, increased their positions.
• Analysts maintain a positive outlook, with nine Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average target price of $42.89 versus the reported share price of $36.81. An executive vice president separately sold 106,563 shares at an average price of $34.10.

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 997,617 shares of the company's stock, valued at approximately $33,799,000. Teva Pharmaceutical Industries makes up approximately 4.2% of Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD's investment portfolio, making the stock its 4th biggest holding. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD owned about 0.09% of Teva Pharmaceutical Industries as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TEVA. California State Teachers Retirement System boosted its stake in shares of Teva Pharmaceutical Industries by 3,376.3% during the 2nd quarter. California State Teachers Retirement System now owns 43,270,486 shares of the company's stock worth $1,466,004,000 after purchasing an additional 42,025,742 shares during the period. Norges Bank bought a new stake in Teva Pharmaceutical Industries in the fourth quarter worth about $1,098,060,000. WCM Investment Management LLC lifted its stake in Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock worth $1,157,264,000 after purchasing an additional 26,813,522 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Teva Pharmaceutical Industries by 39,228.4% during the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company's stock valued at $139,296,000 after buying an additional 6,878,304 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew 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 buying an additional 5,917,423 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of recent analyst reports. UBS Group increased their target price on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Teva Pharmaceutical Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Piper Sandler boosted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Finally, Barclays upped their target price on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.89.

Insider Activity

In other Teva Pharmaceutical Industries news, EVP Eliyahu Kalif sold 106,563 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the sale, the executive vice president owned 65,621 shares in the company, valued at approximately $2,237,676.10. The trade was a 61.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $36.81 on Wednesday. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 61.35, a PEG ratio of 4.53 and a beta of 0.87. Teva Pharmaceutical Industries Ltd. has a 52-week low of $18.21 and a 52-week high of $38.37. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. The company's 50 day moving average is $34.76 and its 200 day moving average is $33.31.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. The business had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. On average, sell-side analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.94 EPS for the current fiscal year.

Teva Pharmaceutical Industries Company Profile

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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