Straight Path Wealth Management Sells 30,000 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Straight Path Wealth Management cut its Teva Pharmaceutical Industries stake by 37.5% in the fourth quarter, selling 30,000 shares and leaving it with 50,000 shares valued at about $1.56 million.
• Despite some hedge-fund trimming, institutional ownership remains high at 54.05%, and several smaller funds increased their positions in Teva during the quarter.
• Analyst sentiment is broadly positive: recent firms raised price targets, and Teva now carries a consensus rating of “Moderate Buy” with an average target price of $41.78.

Straight Path Wealth Management trimmed its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 37.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 30,000 shares during the period. Teva Pharmaceutical Industries comprises 0.4% of Straight Path Wealth Management's holdings, making the stock its 27th biggest holding. Straight Path Wealth Management's holdings in Teva Pharmaceutical Industries were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in Teva Pharmaceutical Industries by 53.8% in the 4th quarter. Allworth Financial LP now owns 941 shares of the company's stock valued at $29,000 after buying an additional 329 shares during the period. Grove Bank & Trust lifted its position in Teva Pharmaceutical Industries by 300.0% during the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Teva Pharmaceutical Industries by 51.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Global Retirement Partners LLC lifted its position in Teva Pharmaceutical Industries by 27.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after acquiring an additional 292 shares during the last quarter. Finally, 1620 Investment Advisors Inc. increased its stake in Teva Pharmaceutical Industries by 1,823.2% during the 4th quarter. 1620 Investment Advisors Inc. now owns 1,577 shares of the company's stock valued at $49,000 after purchasing an additional 1,495 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TEVA has been the topic of a number of recent analyst reports. Truist Financial upped their price target on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Bank of America increased their price target on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price objective (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective 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. Finally, Barclays raised their price target on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Trading Up 4.7%

Shares of TEVA stock opened at $34.38 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The stock has a market capitalization of $39.53 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The company has a 50 day moving average price of $32.72 and a 200 day moving average price of $31.61. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $14.99 and a fifty-two week high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The company had revenue of $3.98 billion during the quarter. Equities research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Eliyahu Sharon Kalif sold 153,251 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total value of $5,457,268.11. Following the completion of the transaction, the executive vice president owned 172,184 shares in the company, valued at $6,131,472.24. The trade was a 47.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president owned 55,755 shares of the company's stock, valued at $1,973,727. This represents a 34.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 421,470 shares of company stock valued at $14,570,945 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

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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