Nordea Investment Management AB Sells 43,767 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Nordea Investment Management AB has reduced its stake in Teva Pharmaceutical Industries by 29.8%, selling 43,767 shares, and now holds 102,902 shares valued at approximately $1.735 million.
• Several large investors are adjusting their positions, with Harel Insurance Investments increasing its stake by a massive 197,885.2%, now owning over 22 million shares.
• Teva's recent earnings report showed a profit of $0.66 per share, exceeding estimates, but its revenue of $4.18 billion fell short of expectations.

Nordea Investment Management AB lessened its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 29.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,902 shares of the company's stock after selling 43,767 shares during the period. Nordea Investment Management AB's holdings in Teva Pharmaceutical Industries were worth $1,735,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Ion Asset Management Ltd. grew its stake in shares of Teva Pharmaceutical Industries by 6.5% in the first quarter. Ion Asset Management Ltd. now owns 39,033,500 shares of the company's stock worth $599,945,000 after acquiring an additional 2,383,500 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its stake in Teva Pharmaceutical Industries by 2.8% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 29,189,316 shares of the company's stock worth $448,640,000 after purchasing an additional 808,074 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Teva Pharmaceutical Industries by 1.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock valued at $404,775,000 after purchasing an additional 300,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Teva Pharmaceutical Industries by 197,885.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock valued at $338,989,000 after purchasing an additional 22,044,407 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Teva Pharmaceutical Industries by 41.1% in the second quarter. Assenagon Asset Management S.A. now owns 8,445,992 shares of the company's stock worth $141,555,000 after buying an additional 2,462,064 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

TEVA stock opened at $18.93 on Thursday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.06 and a quick ratio of 0.77. Teva Pharmaceutical Industries Ltd. has a 1 year low of $12.47 and a 1 year high of $22.80. The company has a market cap of $21.72 billion, a P/E ratio of -118.34, a price-to-earnings-growth ratio of 1.04 and a beta of 0.71. The stock's fifty day moving average price is $19.03 and its 200-day moving average price is $17.19.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. Teva Pharmaceutical Industries had a positive return on equity of 46.10% and a negative net margin of 0.95%.Teva Pharmaceutical Industries's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on TEVA. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. UBS Group lifted their target price on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $25.57.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Placid Jover sold 6,053 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total transaction of $91,763.48. Following the completion of the sale, the insider directly owned 6,774 shares of the company's stock, valued at approximately $102,693.84. This represents a 47.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric A. Hughes sold 52,742 shares of Teva Pharmaceutical Industries 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 disclosure for this sale can be found here. Insiders own 0.49% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.