Private Management Group Inc. Grows Position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• Private Management Group Inc. increased its ownership in Teva Pharmaceutical Industries Ltd. by 15.2% during the first quarter, now holding approximately 1.36 million shares valued at $20.9 million.
• Teva reported earnings of $0.52 per share for the last quarter, exceeding estimates, but its revenue of $3.89 billion fell short of the analyst projections of $3.99 billion.
• Wall Street analysts generally have a positive outlook on Teva, with an average rating of "Buy" and a consensus price target of $24.71 amidst recent rating changes.

Private Management Group Inc. raised its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,361,423 shares of the company's stock after buying an additional 179,758 shares during the quarter. Private Management Group Inc. owned approximately 0.12% of Teva Pharmaceutical Industries worth $20,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Oarsman Capital Inc. acquired a new stake in Teva Pharmaceutical Industries during the 4th quarter worth $29,000. Golden State Wealth Management LLC purchased a new position in shares of Teva Pharmaceutical Industries during the first quarter worth about $39,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Teva Pharmaceutical Industries in the 4th quarter valued at about $44,000. Compagnie Lombard Odier SCmA purchased a new stake in Teva Pharmaceutical Industries during the 1st quarter valued at approximately $54,000. Finally, Versant Capital Management Inc raised its stake in Teva Pharmaceutical Industries by 437.8% during the 1st quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock valued at $81,000 after acquiring an additional 4,312 shares during the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the sale, the executive vice president directly owned 9,989 shares in the company, valued at $170,012.78. This represents 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 available through the SEC website. Insiders own 0.49% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $16.36 on Friday. The firm's fifty day simple moving average is $16.94 and its 200-day simple moving average is $16.84. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 2.59. The stock has a market cap of $18.76 billion, a PE ratio of -14.22, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $12.47 and a fifty-two week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of recent research reports. UBS Group dropped their target price on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Truist Financial began 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 for the company. Bank of America lifted their target price on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Teva Pharmaceutical Industries currently has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries Profile

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.

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