Sumitomo Mitsui Trust Group Inc. grew its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 9.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,173,839 shares of the company's stock after acquiring an additional 186,447 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Teva Pharmaceutical Industries worth $65,476,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Teva Pharmaceutical Industries by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,608,387 shares of the company's stock valued at $112,618,000 after buying an additional 228,189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Teva Pharmaceutical Industries by 8.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,082,578 shares of the company's stock valued at $33,506,000 after buying an additional 80,106 shares during the period. Norges Bank acquired a new stake in Teva Pharmaceutical Industries during the 4th quarter worth about $1,098,060,000. Hudson Bay Capital Management LP grew its holdings in Teva Pharmaceutical Industries by 87.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 225,000 shares of the company's stock worth $4,545,000 after acquiring an additional 105,000 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Teva Pharmaceutical Industries by 47.1% in the 4th quarter. TD Asset Management Inc now owns 369,023 shares of the company's stock worth $11,517,000 after acquiring an additional 118,075 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Barclays boosted their price objective 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. JPMorgan Chase & Co. lifted their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Truist Financial raised their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Bank of America raised their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.78.
Read Our Latest Stock Analysis on Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Stock Down 0.8%
NYSE TEVA traded down $0.28 during mid-day trading on Friday, hitting $32.82. The company's stock had a trading volume of 6,638,115 shares, compared to its average volume of 5,223,980. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The company's 50 day simple moving average is $34.14 and its 200 day simple moving average is $32.68. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 4.02 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a twelve month low of $14.99 and a twelve month high of $37.35.
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 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 for the quarter. Analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.97 earnings per share for the current year.
Insider Transactions at Teva Pharmaceutical Industries
In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the sale, the executive vice president owned 65,621 shares in the company, valued at approximately $2,237,676.10. This represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Sabag sold 144,180 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the completion of the sale, the insider directly owned 80,760 shares of the company's stock, valued at $2,825,792.40. The trade was a 64.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 465,931 shares of company stock valued at $16,332,989. Corporate insiders own 0.54% of the company's stock.
Teva Pharmaceutical Industries Profile
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Free Report)
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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