King Wealth Management Group Buys 160,500 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Key Points

• King Wealth Management Group increased its holdings in Teva Pharmaceutical Industries by a remarkable 1,106.9%, acquiring an additional 160,500 shares in the first quarter, bringing their total to 175,000 shares valued at approximately $2.69 million.
• Several other institutional investors, including FMR LLC and Harel Insurance Investments, also significantly boosted their stakes in Teva, indicating strong interest from the investment community.
• Teva's stock has received multiple buy ratings from research firms, with a consensus target price of $24.71, reflecting positive expectations for the company’s future performance.

King Wealth Management Group lifted its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 1,106.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,000 shares of the company's stock after buying an additional 160,500 shares during the quarter. King Wealth Management Group's holdings in Teva Pharmaceutical Industries were worth $2,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TEVA. FMR LLC lifted its position in shares of Teva Pharmaceutical Industries by 30.7% during the fourth quarter. FMR LLC now owns 81,983,231 shares of the company's stock worth $1,806,910,000 after purchasing an additional 19,242,468 shares in the last quarter. Ion Asset Management Ltd. grew its position in shares of Teva Pharmaceutical Industries by 1.1% during the fourth quarter. Ion Asset Management Ltd. now owns 36,650,000 shares of the company's stock worth $807,766,000 after acquiring an additional 409,778 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Teva Pharmaceutical Industries by 1.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock worth $404,775,000 after acquiring an additional 300,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Teva Pharmaceutical Industries by 197,885.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company's stock worth $338,989,000 after purchasing an additional 22,044,407 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Teva Pharmaceutical Industries by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 9,281,052 shares of the company's stock worth $203,642,000 after purchasing an additional 489,041 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Trading Down 0.5%

NYSE TEVA traded down $0.07 on Friday, hitting $15.38. 14,134,433 shares of the company were exchanged, compared to its average volume of 11,701,027. The company's 50 day moving average price is $16.89 and its 200-day moving average price is $16.67. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.06 and a quick ratio of 0.74. The firm has a market capitalization of $17.64 billion, a P/E ratio of -96.13, a price-to-earnings-growth ratio of 0.91 and a beta of 0.62. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on TEVA shares. Bank of America upped their price objective on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. 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. Finally, JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and upped their price target for the company from $21.00 to $23.00 in a report on Monday, May 12th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $24.71.

Insider Transactions at Teva Pharmaceutical Industries

In other news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 9,989 shares of the company's stock, valued at approximately $170,012.78. This represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is owned by 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.