Royal Palms Capital LLC Acquires Shares of 113,857 Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Royal Palms Capital LLC opened a new position in Teva Pharmaceutical Industries, buying 113,857 shares valued at about $3.55 million. The stake makes Teva roughly 4.2% of Royal Palms’ portfolio and its 9th-largest holding.
• Several other institutional investors also adjusted their TEVA holdings, and hedge funds and other institutions now own 54.05% of the stock. Recent filings showed both new stakes and increased positions from firms like AQR Capital Management and Cerity Partners.
• Analysts remain broadly positive on Teva, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating. Teva also saw significant insider selling recently, including large sales by two executive vice presidents.

Royal Palms Capital LLC acquired a new stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 113,857 shares of the company's stock, valued at approximately $3,553,000. Teva Pharmaceutical Industries accounts for approximately 4.2% of Royal Palms Capital LLC's holdings, making the stock its 9th largest position.

Several other large investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in shares of Teva Pharmaceutical Industries by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock valued at $368,000 after purchasing an additional 4,732 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Teva Pharmaceutical Industries by 4.5% in the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock valued at $616,000 after purchasing an additional 1,739 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at about $255,000. Flow Traders U.S. LLC bought a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at about $238,000. Finally, Cerity Partners LLC raised its holdings in shares of Teva Pharmaceutical Industries by 2.9% in the 2nd quarter. Cerity Partners LLC now owns 45,837 shares of the company's stock valued at $768,000 after purchasing an additional 1,291 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEVA has been the subject of several recent research reports. UBS Group boosted their price target on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group boosted their price target on shares of Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, February 9th. Barclays boosted their price target on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Piper Sandler restated an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Insider Activity

In related news, EVP Eliyahu Sharon Kalif sold 345,810 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $33.64, for a total transaction of $11,633,048.40. Following the completion of the transaction, the executive vice president owned 57,478 shares in the company, valued at $1,933,559.92. The trade was a 85.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard Daniell sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares of the company's stock, valued at approximately $1,973,727. This trade represents a 34.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,280,269 shares of company stock worth $42,755,980 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Teva Pharmaceutical Industries Trading Up 1.7%

NYSE TEVA opened at $34.66 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. The firm has a market cap of $39.85 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.29 and a beta of 0.86. The company has a 50 day moving average price of $32.05 and a 200 day moving average price of $31.16. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The firm had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. As a group, sell-side analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.49 EPS for the current fiscal year.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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