Phoenix Financial Ltd. Sells 208,113 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Phoenix Financial Ltd. trimmed its Teva Pharmaceutical holdings by 208,113 shares in the fourth quarter, but Teva remains its largest position and makes up 13.7% of the portfolio. The firm still owns 41.1 million shares worth about $1.28 billion.
• Wall Street sentiment is broadly positive, with nine analysts rating Teva a Buy and only one Sell. Recent target increases from JPMorgan, Piper Sandler, UBS, and Truist lifted the consensus price target to $41.78.
• Insider selling has been notable, including recent share sales by EVP Richard Daniell and EVP Christine Fox. Over the last 90 days, insiders have sold 1.13 million shares valued at about $37.3 million.

Phoenix Financial Ltd. cut its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,087,131 shares of the company's stock after selling 208,113 shares during the quarter. Teva Pharmaceutical Industries accounts for 13.7% of Phoenix Financial Ltd.'s investment portfolio, making the stock its largest position. Phoenix Financial Ltd. owned about 3.58% of Teva Pharmaceutical Industries worth $1,282,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEVA. Ethic Inc. boosted its stake in shares of Teva Pharmaceutical Industries by 1.8% in the fourth quarter. Ethic Inc. now owns 18,127 shares of the company's stock worth $566,000 after acquiring an additional 325 shares during the last quarter. Allworth Financial LP boosted its holdings in Teva Pharmaceutical Industries by 53.8% in the 4th quarter. Allworth Financial LP now owns 941 shares of the company's stock valued at $29,000 after purchasing an additional 329 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Teva Pharmaceutical Industries by 3.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,911 shares of the company's stock worth $382,000 after acquiring an additional 379 shares during the period. Howard Bailey Securities LLC increased its position in shares of Teva Pharmaceutical Industries by 3.5% during the 3rd quarter. Howard Bailey Securities LLC now owns 14,451 shares of the company's stock worth $292,000 after purchasing an additional 494 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. raised its stake in shares of Teva Pharmaceutical Industries by 1.6% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 31,915 shares of the company's stock valued at $645,000 after acquiring an additional 515 shares during the period. 54.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. UBS Group upped their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Truist Financial raised their price target 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. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Insider Transactions at Teva Pharmaceutical Industries

In related news, EVP Richard Daniell sold 30,000 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares of the company's stock, valued at $1,973,727. This represents a 34.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christine Fox sold 21,258 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were 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 directly owned 63,647 shares of the company's stock, valued at approximately $2,247,375.57. This trade represents a 25.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,127,018 shares of company stock valued at $37,298,712. 0.54% of the stock is owned by company insiders.

Teva Pharmaceutical Industries Trading Down 2.5%

NYSE TEVA opened at $35.33 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $40.62 billion, a P/E ratio of 26.56, a P/E/G ratio of 3.51 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 52-week low of $14.99 and a 52-week high of $37.35. The firm has a 50-day moving average price of $31.51 and a 200 day moving average price of $30.40.

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. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The company had revenue of $3.98 billion for the quarter. Equities research analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.49 EPS for the current year.

About Teva Pharmaceutical Industries

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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