Swiss National Bank Buys 941,700 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Swiss National Bank increased its Teva stake by 28.7% in Q1, buying 941,700 additional shares and bringing its holdings to 4.23 million shares worth about $127.3 million.
• Wall Street sentiment remains mostly positive: several firms raised price targets to $42, and the stock has a Moderate Buy consensus with 9 Buy ratings and 1 Sell rating.
• Teva reported quarterly EPS of $0.53 on revenue of $3.98 billion, while insiders have been selling shares recently, including EVP Christine Fox and CAO Amir Weiss.

Swiss National Bank boosted its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 28.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,227,900 shares of the company's stock after purchasing an additional 941,700 shares during the quarter. Swiss National Bank owned about 0.37% of Teva Pharmaceutical Industries worth $127,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Teva Pharmaceutical Industries in the 4th quarter worth $25,000. Cornerstone Planning Group LLC raised its position in shares of Teva Pharmaceutical Industries by 547.1% during the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock valued at $27,000 after buying an additional 755 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Teva Pharmaceutical Industries by 53.8% in the fourth 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 stake in shares of Teva Pharmaceutical Industries by 300.0% in the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company's stock valued at $31,000 after buying an additional 750 shares during the period. Finally, EverSource Wealth Advisors LLC grew 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 worth $32,000 after buying an additional 345 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. 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. Wall Street Zen lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Friday. Finally, Bank of America upped their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $30.96 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The stock has a market cap of $35.60 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.38 and a beta of 0.86. The stock has a 50-day moving average of $33.66 and a 200-day moving average of $32.70. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly 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 during the quarter. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Christine Fox sold 21,258 shares of the 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. This represents a 25.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total value of $384,444.00. Following the completion of the sale, the chief accounting officer owned 20,016 shares of the company's stock, valued at $720,576. This trade represents a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is owned by company insiders.

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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