Retirement Systems of Alabama Takes Position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Retirement Systems of Alabama purchased a new stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 401,249 shares of the company's stock, valued at approximately $6,167,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Oarsman Capital Inc. acquired a new position in shares of Teva Pharmaceutical Industries in the fourth quarter worth $29,000. 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 acquired a new position in Teva Pharmaceutical Industries in the 1st quarter worth about $54,000. Versant Capital Management Inc raised its stake in shares of Teva Pharmaceutical Industries by 437.8% during the 1st quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock worth $81,000 after purchasing an additional 4,312 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Teva Pharmaceutical Industries by 96.1% during the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock worth $88,000 after purchasing an additional 1,960 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Activity

In other news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the transaction, the executive vice president now directly owns 9,989 shares of the company's stock, valued at $170,012.78. The trade was a 38.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company's stock.

Teva Pharmaceutical Industries Trading Up 0.9%

Shares of TEVA opened at $17.12 on Wednesday. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $22.80. 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 firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of -14.89, a P/E/G ratio of 0.87 and a beta of 0.60. The stock's 50-day moving average price is $16.53 and its 200 day moving average price is $17.41.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. 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 company posted $0.48 EPS. The company's revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEVA. Truist Financial initiated coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a "buy" rating and a $25.00 price objective for the company. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They set a "buy" rating and a $24.00 target price on the stock. Bank of America boosted their price target on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Buy" and an average target price of $24.44.

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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