TD Asset Management Inc Purchases 118,075 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• TD Asset Management Inc increased its Teva Pharmaceutical Industries stake by 47.1% in the fourth quarter, buying 118,075 shares and bringing its total holding to 369,023 shares worth about $11.5 million.
• Other institutions also added to their positions, and overall 54.05% of Teva’s stock is owned by institutional investors, indicating continued hedge fund and asset manager interest in the company.
• Despite recent insider selling, analysts remain broadly positive: Teva has a Moderate Buy consensus rating with a $41.78 average price target, while the stock was trading around $33.24 after a 2.8% decline.

TD Asset Management Inc lifted its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 47.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,023 shares of the company's stock after buying an additional 118,075 shares during the quarter. TD Asset Management Inc's holdings in Teva Pharmaceutical Industries were worth $11,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its stake in shares of Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after buying an additional 292 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Teva Pharmaceutical Industries by 6.3% in the fourth quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company's stock valued at $160,000 after buying an additional 306 shares in the last quarter. Ethic Inc. grew 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 valued at $566,000 after buying an additional 325 shares in the last quarter. Allworth Financial LP grew 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock valued at $32,000 after buying an additional 345 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Insider Activity at Teva Pharmaceutical Industries

In other news, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction on Friday, May 1st. The stock was sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the completion of the sale, the insider owned 80,760 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of Teva Pharmaceutical Industries stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $35.61, for a total value of $5,457,268.11. Following the sale, the executive vice president directly owned 172,184 shares of the company's stock, valued at $6,131,472.24. This represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 421,470 shares of company stock valued at $14,570,945 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Trading Down 2.8%

TEVA stock opened at $33.24 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 company has a fifty day moving average price of $32.89 and a two-hundred day moving average price of $31.74. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35. The stock has a market cap of $38.22 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.49 and a beta of 0.84.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price 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. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group raised their target price on shares of Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, February 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 research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.