Sound Shore Management Inc. CT Lowers Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Sound Shore Management cut its Teva stake by 9.8% in the first quarter, but Teva remains its largest holding and represents about 3.9% of the portfolio.
• Analyst sentiment is still generally positive: several firms raised price targets, and Teva now has a Moderate Buy consensus with an average target of $41.78.
• Teva insiders have been selling shares, including recent sales by two executive vice presidents, while the stock was trading around $32.00 and the company reported quarterly EPS of $0.53 on $3.98 billion in revenue.

Sound Shore Management Inc. CT reduced its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 9.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,885,683 shares of the company's stock after selling 424,223 shares during the quarter. Teva Pharmaceutical Industries accounts for approximately 3.9% of Sound Shore Management Inc. CT's portfolio, making the stock its largest holding. Sound Shore Management Inc. CT owned 0.34% of Teva Pharmaceutical Industries worth $117,037,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TEVA. AQR Capital Management LLC boosted its stake in Teva Pharmaceutical Industries by 24.6% in the first quarter. AQR Capital Management LLC now owns 23,955 shares of the company's stock valued at $368,000 after acquiring an additional 4,732 shares during the last quarter. Focus Partners Wealth increased its stake in shares of Teva Pharmaceutical Industries by 4.5% during the 1st quarter. Focus Partners Wealth now owns 40,074 shares of the company's stock worth $616,000 after purchasing an additional 1,739 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Teva Pharmaceutical Industries during the 2nd quarter worth approximately $255,000. Flow Traders U.S. LLC bought a new stake in shares of Teva Pharmaceutical Industries in the 2nd quarter worth approximately $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 worth $768,000 after purchasing an additional 1,291 shares during the period. Institutional investors own 54.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TEVA shares. Wall Street Zen lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Barclays boosted their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research report on Monday, April 20th. Bank of America increased their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Finally, UBS Group lifted their price objective on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Richard Daniell sold 30,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total value of $1,062,000.00. Following the completion of the transaction, the executive vice president owned 55,755 shares in the company, valued at $1,973,727. This trade represents a 34.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine Fox sold 21,258 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $35.31, for a total value of $750,619.98. Following the transaction, the executive vice president directly owned 63,647 shares of the company's stock, valued at $2,247,375.57. The trade was a 25.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 465,931 shares of company stock worth $16,332,989 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Teva Pharmaceutical Industries Stock Down 0.1%

Teva Pharmaceutical Industries stock opened at $32.00 on Monday. The firm has a 50 day simple moving average of $33.76 and a 200 day simple moving average of $32.70. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Teva Pharmaceutical Industries Ltd. has a 1-year low of $14.99 and a 1-year high of $37.35. The firm has a market capitalization of $36.79 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.38 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. On average, analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current year.

About Teva Pharmaceutical Industries

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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