Norges Bank Invests $1.10 Billion in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Norges Bank disclosed a new stake in Teva Pharmaceutical Industries, buying 35.2 million shares worth about $1.10 billion and ending the quarter with 3.07% of the company.
• Teva shares were up 2.3%, with the stock opening at $35.32 and trading near its 52-week high of $37.35 as investors reacted to the latest ownership and earnings data.
• Analysts remain generally positive on Teva, with nine Buy ratings and an average price target of $41.78, even as some firms kept bearish or neutral views.

Norges Bank bought a new stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,182,949 shares of the company's stock, valued at approximately $1,098,060,000. Norges Bank owned 3.07% of Teva Pharmaceutical Industries at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company's stock worth $1,402,945,000 after purchasing an additional 7,255,083 shares during the period. Menora Mivtachim Holdings LTD. boosted its position in shares of 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 valued at $786,190,000 after purchasing an additional 427,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Teva Pharmaceutical Industries by 14.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock worth $1,167,323,000 after buying an additional 4,820,000 shares during the period. Rubric Capital Management LP boosted its holdings in shares of Teva Pharmaceutical Industries by 1.8% in the second quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company's stock worth $435,760,000 after buying an additional 450,000 shares during the period. Finally, Duquesne Family Office LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 3.9% in the third quarter. Duquesne Family Office LLC now owns 16,593,935 shares of the company's stock worth $335,197,000 after buying an additional 625,000 shares during the period. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Trading Up 2.3%

Shares of Teva Pharmaceutical Industries stock opened at $35.32 on Friday. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The company's fifty day simple moving average is $32.35 and its 200-day simple moving average is $31.33. The company has a market cap of $40.61 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.42 and a beta of 0.86.

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

Insider Buying and Selling

In other news, insider Mark Sabag sold 144,180 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the sale, the insider owned 80,760 shares in the company, valued at approximately $2,825,792.40. The trade was a 64.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the completion of the sale, the executive vice president owned 172,184 shares in the company, valued at $6,131,472.24. This represents a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 934,459 shares of company stock worth $31,122,931 in the last three months. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

TEVA has been the subject of several recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 2nd. UBS Group raised their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Truist Financial lifted their price target on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.78.

Teva Pharmaceutical Industries 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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