Swiss Life Asset Management Ltd Lowers Position in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Swiss Life Asset Management reduced its Teva Pharmaceutical Industries stake by 28.7% in the fourth quarter, selling 38,849 shares and ending with 96,493 shares worth about $3.0 million.
• Insider selling was significant last quarter, including large sales by Mark Sabag and EVP Eliyahu Sharon Kalif; company insiders sold 1.13 million shares total valued at $37.3 million.
• Analysts remain mostly positive on TEVA, with nine Buy ratings and one Sell, giving it a consensus “Moderate Buy” and an average price target of $41.78.

Swiss Life Asset Management Ltd cut its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,493 shares of the company's stock after selling 38,849 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Teva Pharmaceutical Industries were worth $3,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Drive Wealth Management LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth approximately $248,000. NewEdge Wealth LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth approximately $289,000. Ethic Inc. raised its stake in shares of Teva Pharmaceutical Industries by 1.8% in the fourth quarter. Ethic Inc. now owns 18,127 shares of the company's stock worth $566,000 after purchasing an additional 325 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth approximately $293,000. Finally, Channel Wealth LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth approximately $215,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of the firm's stock in a transaction on Friday, May 1st. The stock was 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. This trade represents a 64.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Eliyahu Sharon Kalif sold 345,810 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $33.64, for a total value of $11,633,048.40. Following the completion of the sale, the executive vice president directly owned 57,478 shares of the company's stock, valued at $1,933,559.92. This represents a 85.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,127,018 shares of company stock valued at $37,298,712 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

TEVA has been the subject of several analyst reports. Truist Financial increased their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Piper Sandler reissued an "overweight" rating and issued a $42.00 price objective (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. The Goldman Sachs Group increased their price objective on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Finally, Scotiabank upped their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company a "sector outperform" rating in a report on Thursday, January 29th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

TEVA stock opened at $35.33 on Friday. The firm has a market cap of $40.62 billion, a PE ratio of 26.56, a P/E/G ratio of 3.51 and a beta of 0.86. 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 business has a 50 day moving average of $31.51 and a 200-day moving average of $30.40. Teva Pharmaceutical Industries Ltd. has a 12-month low of $14.99 and a 12-month high of $37.35.

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

Teva Pharmaceutical Industries 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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