Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Position Cut by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Teva Pharmaceutical by 34.0%, holding 332,923 shares after selling 171,611 shares in the first quarter, worth approximately $5.1 million.
• Many institutional investors, including Golden State Wealth Management LLC and Versant Capital Management Inc., have either bought new positions or increased their stakes in Teva, with hedge funds owning over 54.05% of the stock.
• Analysts are generally optimistic about Teva, with several firms issuing "buy" ratings and the stock having a consensus average target price of $24.71.

Natixis Advisors LLC trimmed its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 332,923 shares of the company's stock after selling 171,611 shares during the period. Natixis Advisors LLC's holdings in Teva Pharmaceutical Industries were worth $5,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TEVA. Orion Portfolio Solutions LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 11.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 12,302 shares of the company's stock worth $271,000 after acquiring an additional 1,310 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Teva Pharmaceutical Industries by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 185,912 shares of the company's stock worth $4,098,000 after acquiring an additional 3,816 shares during the period. Trexquant Investment LP purchased a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $2,092,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $7,211,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Teva Pharmaceutical Industries by 33.8% during the 4th quarter. Russell Investments Group Ltd. now owns 204,447 shares of the company's stock worth $4,506,000 after acquiring an additional 51,601 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Eric A. Hughes sold 52,742 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $799,568.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Placid Jover sold 6,053 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $15.16, for a total value of $91,763.48. Following the transaction, the insider owned 6,774 shares in the company, valued at $102,693.84. This trade represents a 47.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,001 shares of company stock worth $996,958 over the last ninety days. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEVA. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. Truist Financial started coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They set a "buy" rating and a $25.00 target price for the company. UBS Group dropped their price objective on shares of 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. Hsbc Global Res upgraded shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $24.71.

Teva Pharmaceutical Industries Stock Up 0.3%

Shares of TEVA stock traded up $0.05 during mid-day trading on Friday, reaching $16.34. 9,533,492 shares of the company were exchanged, compared to its average volume of 13,038,851. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $12.47 and a fifty-two week high of $22.80. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06. The company has a market capitalization of $18.74 billion, a P/E ratio of -102.13, a P/E/G ratio of 0.96 and a beta of 0.62. The business's 50 day simple moving average is $16.72 and its 200 day simple moving average is $16.43.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, topping 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 business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Teva Pharmaceutical Industries 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.