Todd Asset Management LLC Acquires 290,154 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• Todd Asset Management LLC has increased its stake in Teva Pharmaceutical Industries by 11.0%, now owning approximately 2.93 million shares, valued at about $45 million.
• Teva's shares opened at $16.34, with a current market capitalization of $18.74 billion and a one-year price range between $12.47 and $22.80.
• Analysts are optimistic about Teva's future performance, with seven analysts rating it as a buy and a consensus target price of $24.71.

Todd Asset Management LLC lifted its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,932,742 shares of the company's stock after buying an additional 290,154 shares during the period. Teva Pharmaceutical Industries comprises approximately 1.1% of Todd Asset Management LLC's holdings, making the stock its 29th largest holding. Todd Asset Management LLC owned approximately 0.26% of Teva Pharmaceutical Industries worth $45,076,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TEVA. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 197,885.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock worth $338,989,000 after buying an additional 22,044,407 shares in the last quarter. Duquesne Family Office LLC grew its position in Teva Pharmaceutical Industries by 530.1% during the 4th quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company's stock worth $198,303,000 after acquiring an additional 7,569,450 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Teva Pharmaceutical Industries by 472.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company's stock worth $96,078,000 after acquiring an additional 5,186,592 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Teva Pharmaceutical Industries by 416.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company's stock worth $91,973,000 after acquiring an additional 4,824,247 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Teva Pharmaceutical Industries during the 1st quarter worth approximately $40,827,000. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Trading Up 3.7%

TEVA traded up $0.61 during mid-day trading on Wednesday, reaching $17.21. The stock had a trading volume of 9,830,034 shares, compared to its average volume of 12,710,530. The stock has a market capitalization of $19.74 billion, a P/E ratio of -107.56, a P/E/G ratio of 0.98 and a beta of 0.62. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.77 and a current ratio of 1.06. The firm's fifty day simple moving average is $16.68 and its two-hundred day simple moving average is $16.32. Teva Pharmaceutical Industries Ltd. has a 52 week low of $12.47 and a 52 week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.34 billion. Teva Pharmaceutical Industries had a positive return on equity of 46.10% and a negative net margin of 0.95%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. On average, equities analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group decreased their price target on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. Bank of America increased their price target on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $24.71.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the transaction, the executive vice president owned 9,989 shares of the company's stock, valued at $170,012.78. This represents a 38.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Placid Jover sold 6,053 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $91,763.48. Following the completion of the transaction, the insider directly owned 6,774 shares in the company, valued at approximately $102,693.84. This trade represents a 47.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,001 shares of company stock worth $996,958. Insiders own 0.49% of the company's stock.

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.