Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,828 shares of the company's stock after purchasing an additional 89,340 shares during the period. DAVENPORT & Co LLC's holdings in Teva Pharmaceutical Industries were worth $7,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in TEVA. Principal Financial Group Inc. boosted its position in Teva Pharmaceutical Industries by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 92,471 shares of the company's stock worth $2,038,000 after purchasing an additional 2,752 shares in the last quarter. IFP Advisors Inc increased its position in shares of Teva Pharmaceutical Industries by 96.1% in 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 in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Teva Pharmaceutical Industries by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,621,344 shares of the company's stock worth $35,734,000 after buying an additional 67,571 shares during the period. Metis Global Partners LLC lifted its position in shares of Teva Pharmaceutical Industries by 6.7% during the 4th quarter. Metis Global Partners LLC now owns 13,697 shares of the company's stock valued at $302,000 after buying an additional 860 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Teva Pharmaceutical Industries by 23.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 14,200 shares of the company's stock valued at $317,000 after buying an additional 2,660 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Price Performance

Shares of TEVA remained flat at $17.05 during midday trading on Thursday. The company's stock had a trading volume of 5,550,481 shares, compared to its average volume of 10,241,018. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 1.03. The business has a fifty day simple moving average of $16.95 and a 200 day simple moving average of $17.40. The company has a market capitalization of $19.56 billion, a PE ratio of -14.83, a PEG ratio of 0.85 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Teva Pharmaceutical Industries's quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEVA has been the subject of several recent analyst reports. UBS Group cut their price target on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and raised their price target for the company from $21.00 to $23.00 in a research note on Monday, May 12th. Truist Financial assumed coverage on Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 price objective for the company. Finally, Hsbc Global Res raised Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Teva Pharmaceutical Industries has an average rating of "Buy" and an average target price of $24.13.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the sale, the executive vice president owned 9,989 shares in the company, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by company insiders.

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.