Retirement Systems of Alabama Takes $6.17 Million Position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Oarsman Capital Inc. purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at $44,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Teva Pharmaceutical Industries in the 1st quarter valued at $54,000. IFP Advisors Inc increased its holdings in shares of Teva Pharmaceutical Industries by 96.1% in the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock valued at $88,000 after acquiring an additional 1,960 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Teva Pharmaceutical Industries by 27.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company's stock valued at $96,000 after acquiring an additional 949 shares during the period. 54.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEVA. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $21.00 to $23.00 in a report on Monday, May 12th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Bank of America boosted their target price on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Truist Financial initiated coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 target price on the stock. Finally, 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 research note on Thursday. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Teva Pharmaceutical Industries presently has an average rating of "Buy" and a consensus price target of $24.13.

Teva Pharmaceutical Industries Stock Up 1.2%

TEVA stock traded up $0.20 on Friday, hitting $16.76. 8,942,158 shares of the company's stock were exchanged, compared to its average volume of 10,289,327. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $22.80. The firm has a 50 day moving average price of $16.72 and a two-hundred day moving average price of $17.39. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 1.03. The stock has a market cap of $19.22 billion, a P/E ratio of -14.57, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.99 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Matthew Shields sold 6,206 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the transaction, the executive vice president now 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 filing with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by insiders.

Teva Pharmaceutical Industries Company 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.