Resona Asset Management Co. Ltd. Boosts Stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Teva Pharmaceutical Industries by 5.0% during the first quarter, now owning shares valued at $5.25 million.
• Several institutional investors recently acquired positions in Teva, contributing to the fact that 54.05% of the stock is owned by hedge funds and other institutional investors.
• Teva's stock received multiple upgrades from various brokerages, with Bank of America raising the target price to $22.00 and the company currently holding an average buy rating.

Resona Asset Management Co. Ltd. lifted its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,223 shares of the company's stock after buying an additional 16,302 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Teva Pharmaceutical Industries were worth $5,247,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at about $39,000. New Age Alpha Advisors LLC purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Teva Pharmaceutical Industries in the fourth quarter valued at about $44,000. Compagnie Lombard Odier SCmA purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at about $54,000. Finally, Banque Cantonale Vaudoise purchased a new position in Teva Pharmaceutical Industries in the first quarter valued at about $74,000. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, insider Placid Jover sold 6,053 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $91,763.48. Following the completion of the sale, the insider directly owned 6,774 shares of the company's stock, valued at approximately $102,693.84. The trade was a 47.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $799,568.72. The disclosure for this sale can be found here. In the last three months, insiders sold 65,001 shares of company stock valued at $996,958. Company insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEVA. Bank of America increased 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. The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a "buy" rating and a $24.00 target price on the stock. UBS Group lowered 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. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their target price for the company from $21.00 to $23.00 in a report on Monday, May 12th. Finally, Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of "Buy" and an average target price of $24.71.

Teva Pharmaceutical Industries Stock Up 1.8%

TEVA stock opened at $17.86 on Friday. The stock has a market capitalization of $20.48 billion, a P/E ratio of -111.63, a PEG ratio of 1.04 and a beta of 0.62. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06. Teva Pharmaceutical Industries Ltd. has a one year low of $12.47 and a one year high of $22.80. The company has a 50 day moving average price of $16.69 and a two-hundred day moving average price of $16.27.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.34 billion. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. Teva Pharmaceutical Industries's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

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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