Mangrove Partners IM LLC Has $67.38 Million Stake in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Mangrove Partners IM LLC trimmed its Teva stake by 7.7% in the fourth quarter, but still held 2.16 million shares worth about $67.38 million at period end. Teva remained the fund’s fourth-largest holding.
• Teva shares were down 2.4% to $32.88, while the company reported quarterly EPS of $0.53 on revenue of $3.98 billion. Analysts expect full-year EPS of 2.36.
• Wall Street sentiment remains constructive: several firms recently raised price targets, and the stock now has a consensus rating of Moderate Buy with an average target price of $41.78. Meanwhile, insiders have been selling shares, including EVP Christine Fox and CAO Amir Weiss.

Mangrove Partners IM LLC reduced its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,158,950 shares of the company's stock after selling 179,287 shares during the quarter. Teva Pharmaceutical Industries comprises approximately 5.5% of Mangrove Partners IM LLC's holdings, making the stock its 4th largest position. Mangrove Partners IM LLC owned 0.19% of Teva Pharmaceutical Industries worth $67,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Menora Mivtachim Holdings LTD. grew its stake in Teva Pharmaceutical Industries by 1.1% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company's stock worth $786,190,000 after buying an additional 427,000 shares during the last quarter. Victory Capital Management Inc. grew its stake in Teva Pharmaceutical Industries by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,360,762 shares of the company's stock worth $47,687,000 after buying an additional 45,395 shares during the last quarter. WealthTrust Asset Management LLC bought a new position in Teva Pharmaceutical Industries during the 3rd quarter worth $856,000. Hudson Bay Capital Management LP grew its stake in Teva Pharmaceutical Industries by 87.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 225,000 shares of the company's stock worth $4,545,000 after buying an additional 105,000 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Teva Pharmaceutical Industries by 167.9% during the 3rd quarter. HighTower Advisors LLC now owns 172,802 shares of the company's stock worth $3,491,000 after buying an additional 108,311 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Trading Down 2.4%

Shares of TEVA stock opened at $32.88 on Wednesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The stock has a fifty day moving average of $33.40 and a two-hundred day moving average of $32.12. The firm has a market capitalization of $37.80 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.44 and a beta of 0.84.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. The business had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. As a group, research analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Barclays boosted their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Piper Sandler reiterated an "overweight" rating and set a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.78.

Insiders Place Their Bets

In other news, EVP Christine Fox sold 21,258 shares of the company's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $35.31, for a total value of $750,619.98. Following the completion of the sale, the executive vice president owned 63,647 shares in the company, valued at $2,247,375.57. This represents a 25.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amir Weiss sold 10,679 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer owned 20,016 shares of the company's stock, valued at approximately $720,576. This trade represents a 34.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is currently owned by insiders.

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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