Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Shares Sold by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management reduced its stake in Teva Pharmaceutical Industries by 5.7%, now holding approximately 596,857 shares valued at $9.17 million.
• Institutional investors own over 54% of Teva's stock, with notable increases from firms like FMR LLC and Harel Insurance.
• Teva Pharmaceutical had a quarterly earnings report showing $0.52 EPS, slightly above analysts' expectations, despite revenue falling short at $3.89 billion.

Picton Mahoney Asset Management lessened its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 596,857 shares of the company's stock after selling 36,292 shares during the period. Picton Mahoney Asset Management owned 0.05% of Teva Pharmaceutical Industries worth $9,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TEVA. Bfsg LLC increased its position in shares of Teva Pharmaceutical Industries by 7.8% in the first quarter. Bfsg LLC now owns 10,960 shares of the company's stock worth $168,000 after acquiring an additional 790 shares in the last quarter. Townsquare Capital LLC increased its stake in Teva Pharmaceutical Industries by 2.1% during the 4th quarter. Townsquare Capital LLC now owns 40,162 shares of the company's stock valued at $885,000 after buying an additional 812 shares during the period. Quadrant Capital Group LLC increased its stake in Teva Pharmaceutical Industries by 27.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company's stock valued at $96,000 after buying an additional 949 shares during the period. Blair William & Co. IL boosted its position in shares of Teva Pharmaceutical Industries by 9.4% during the 4th quarter. Blair William & Co. IL now owns 11,232 shares of the company's stock valued at $248,000 after purchasing an additional 963 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 1.9% in the first quarter. Yousif Capital Management LLC now owns 55,986 shares of the company's stock worth $861,000 after buying an additional 1,033 shares during the period. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the sale, the executive vice president owned 9,989 shares in the company, valued at approximately $170,012.78. The trade was a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEVA has been the topic of several recent research reports. 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 price objective on the stock. The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price target for the company. JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and upped their price target for the company from $21.00 to $23.00 in a research note on Monday, May 12th. UBS Group reduced their price target on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research note on Monday, April 28th. 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 data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $24.71.

Teva Pharmaceutical Industries Stock Down 1.1%

TEVA stock traded down $0.17 during midday trading on Friday, hitting $15.29. The stock had a trading volume of 8,921,777 shares, compared to its average volume of 12,216,424. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 0.74. The business has a 50-day moving average of $16.89 and a two-hundred day moving average of $16.67. Teva Pharmaceutical Industries Ltd. has a 52-week low of $12.47 and a 52-week high of $22.80. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of -95.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Teva Pharmaceutical Industries had a positive return on equity of 47.68% and a negative net margin of 0.95%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

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.