State of New Jersey Common Pension Fund D Buys 41,300 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in Teva Pharmaceutical Industries by 8.7% in Q1, acquiring an additional 41,300 shares for a total of 514,809 shares, valued at $7.9 million.
• Multiple institutional investors significantly boosted their positions in Teva during the first quarter, with Harel Insurance increasing its stake by nearly 197,885.2%, accumulating over 22 million shares.
• Teva's stock has received upgrades from several firms, with a consensus rating of "Buy" and an average price target of $24.71 following recent positive earnings reports.

State of New Jersey Common Pension Fund D boosted its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 514,809 shares of the company's stock after buying an additional 41,300 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Teva Pharmaceutical Industries were worth $7,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Teva Pharmaceutical Industries by 197,885.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock valued at $338,989,000 after purchasing an additional 22,044,407 shares during the last quarter. Duquesne Family Office LLC boosted its stake in Teva Pharmaceutical Industries by 530.1% during the fourth quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company's stock valued at $198,303,000 after buying an additional 7,569,450 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Teva Pharmaceutical Industries by 472.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company's stock valued at $96,078,000 after acquiring an additional 5,186,592 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Teva Pharmaceutical Industries by 416.0% during the first quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company's stock valued at $91,973,000 after purchasing an additional 4,824,247 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Teva Pharmaceutical Industries in the 1st quarter worth approximately $40,827,000. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Transactions at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total transaction of $105,626.12. Following the completion of the transaction, the executive vice president directly owned 9,989 shares of the company's stock, valued at $170,012.78. This trade represents a 38.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Placid Jover sold 6,053 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $91,763.48. Following the completion of the sale, the insider owned 6,774 shares in the company, valued at approximately $102,693.84. This trade represents a 47.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,001 shares of company stock valued at $996,958 in the last three months. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TEVA. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group assumed coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price target on the stock. Hsbc Global Res upgraded shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. Finally, Truist Financial assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a "buy" rating and a $25.00 target price on the stock. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of "Buy" and an average price target of $24.71.

Teva Pharmaceutical Industries Price Performance

TEVA opened at $17.86 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06. The stock's 50 day moving average price is $16.69 and its 200-day moving average price is $16.24. The stock has a market capitalization of $20.48 billion, a PE ratio of -111.63, a price-to-earnings-growth ratio of 1.06 and a beta of 0.62. Teva Pharmaceutical Industries Ltd. has a 52-week low of $12.47 and a 52-week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. On average, equities research analysts predict 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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