Pacer Advisors Inc. Sells 484,736 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Pacer Advisors reduced its Teva Pharmaceutical Industries stake by 98.1%, selling 484,736 shares and retaining 9,251 shares valued at approximately $279,000. Institutional investors collectively own 54.05% of TEVA.
• Analysts remain broadly positive, with nine Buy ratings and one Hold rating. The average price target is $42, while Barclays, Truist, Piper Sandler and JPMorgan recently raised their targets.
• TEVA opened at $36.48, near its 12-month high of $37.35, after reporting quarterly revenue of $4.14 billion and earnings of $0.02 per share. Company insiders have sold 259,831 shares worth about $9.1 million over the past 90 days.

Pacer Advisors Inc. cut its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 98.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,251 shares of the company's stock after selling 484,736 shares during the period. Pacer Advisors Inc.'s holdings in Teva Pharmaceutical Industries were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TEVA. Aster Capital Management DIFC Ltd bought a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at $25,000. Cornerstone Planning Group LLC grew its stake in shares of Teva Pharmaceutical Industries by 547.1% in the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock worth $27,000 after purchasing an additional 755 shares during the last quarter. Allworth Financial LP grew its stake in shares of Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company's stock worth $29,000 after purchasing an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after purchasing an additional 292 shares during the period. 54.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEVA has been the topic of several recent research reports. Barclays lifted their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Truist Financial lifted their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Piper Sandler lifted their price objective on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.00.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA opened at $36.48 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $42.51 billion, a P/E ratio of 60.79, a price-to-earnings-growth ratio of 3.87 and a beta of 0.86. The firm's fifty day simple moving average is $33.35 and its two-hundred day simple moving average is $32.89. Teva Pharmaceutical Industries Ltd. has a 12 month low of $16.26 and a 12 month high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. As a group, analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.96 EPS for the current year.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $34.10, for a total value of $3,633,798.30. Following the completion of the sale, the executive vice president directly owned 65,621 shares in the company, valued at approximately $2,237,676.10. The trade was a 61.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 259,831 shares of company stock worth $9,091,659 over the last ninety days. Company insiders own 0.54% of the company's stock.

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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