Lazard Asset Management LLC Trims Stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Lazard Asset Management LLC cut its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 56.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,230 shares of the company's stock after selling 134,053 shares during the period. Lazard Asset Management LLC's holdings in Teva Pharmaceutical Industries were worth $2,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEVA. Oarsman Capital Inc. bought a new position in Teva Pharmaceutical Industries during the fourth quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Teva Pharmaceutical Industries during the fourth quarter valued at approximately $44,000. Ameliora Wealth Management Ltd. bought a new position in Teva Pharmaceutical Industries during the fourth quarter valued at approximately $66,000. IFP Advisors Inc boosted its stake in Teva Pharmaceutical Industries by 96.1% during the fourth quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock valued at $88,000 after buying an additional 1,960 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Teva Pharmaceutical Industries by 27.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company's stock valued at $96,000 after buying an additional 949 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of recent research reports. Bank of America upped their price objective on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. Barclays decreased their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Finally, UBS Group decreased their price objective on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $24.43.

Teva Pharmaceutical Industries Trading Down 1.2%

Shares of NYSE TEVA traded down $0.21 during midday trading on Wednesday, hitting $16.58. The company's stock had a trading volume of 12,519,318 shares, compared to its average volume of 10,002,806. The business's 50 day moving average is $15.37 and its two-hundred day moving average is $17.38. The firm has a market cap of $18.79 billion, a P/E ratio of -11.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. Teva Pharmaceutical Industries Limited has a 12-month low of $12.47 and a 12-month high of $22.80. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. Teva Pharmaceutical Industries's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. As a group, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.