Lord Abbett & CO. LLC Acquires 365,225 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Lord Abbett & CO. LLC increased its stake in Teva Pharmaceutical Industries by 15.2%, acquiring 365,225 shares to own a total of 2,770,120 shares valued at approximately $42.6 million.
• Several hedge funds, including Ion Asset Management Ltd. and Migdal Insurance & Financial Holdings Ltd., have also increased their holdings in Teva, contributing to over 54% of the company's stock being owned by institutional investors.
• Teva's recent earnings report showed a positive EPS of $0.66, surpassing analyst expectations, although its revenue of $4.18 billion fell short of estimates.

Lord Abbett & CO. LLC increased its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,770,120 shares of the company's stock after acquiring an additional 365,225 shares during the period. Lord Abbett & CO. LLC owned about 0.24% of Teva Pharmaceutical Industries worth $42,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in Teva Pharmaceutical Industries by 30.0% during the 1st quarter. Russell Investments Group Ltd. now owns 265,777 shares of the company's stock worth $4,085,000 after buying an additional 61,330 shares during the period. Resona Asset Management Co. Ltd. increased its holdings in Teva Pharmaceutical Industries by 5.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 342,223 shares of the company's stock worth $5,247,000 after purchasing an additional 16,302 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Teva Pharmaceutical Industries by 7.0% in the first quarter. Public Sector Pension Investment Board now owns 587,167 shares of the company's stock valued at $9,025,000 after acquiring an additional 38,400 shares in the last quarter. Todd Asset Management LLC grew its holdings in shares of Teva Pharmaceutical Industries by 11.0% in the first quarter. Todd Asset Management LLC now owns 2,932,742 shares of the company's stock valued at $45,076,000 after acquiring an additional 290,154 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Teva Pharmaceutical Industries in the first quarter valued at approximately $40,827,000. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA traded down $0.53 during trading hours on Tuesday, reaching $17.53. The company had a trading volume of 9,407,637 shares, compared to its average volume of 12,146,340. Teva Pharmaceutical Industries Ltd. has a 52 week low of $12.47 and a 52 week high of $22.80. The firm's 50 day moving average price is $16.69 and its 200-day moving average price is $16.24. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of -109.84, a PEG ratio of 1.06 and a beta of 0.62.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The company's revenue for the quarter was up .3% compared to the same quarter last year. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. On average, analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the sale, the executive vice president owned 9,989 shares in the company, valued at $170,012.78. The trade was a 38.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric A. Hughes sold 52,742 shares of the company's stock in a transaction dated Friday, August 1st. The shares were 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. In the last quarter, insiders have sold 65,001 shares of company stock worth $996,958. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TEVA. Truist Financial began coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price for the company. Bank of America increased their price objective on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. UBS Group reduced their price objective on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $21.00 to $23.00 in a research note on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $24.71.

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.