Carnegie Lake Advisors LLC Increases Stock Position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Carnegie Lake Advisors LLC lifted its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,350 shares of the company's stock after buying an additional 16,400 shares during the quarter. Carnegie Lake Advisors LLC's holdings in Teva Pharmaceutical Industries were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oarsman Capital Inc. acquired a new stake in Teva Pharmaceutical Industries during the fourth quarter worth about $29,000. Golden State Wealth Management LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter valued at about $39,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Teva Pharmaceutical Industries in the fourth quarter valued at about $44,000. Compagnie Lombard Odier SCmA acquired a new stake in Teva Pharmaceutical Industries during the first quarter valued at approximately $54,000. Finally, Versant Capital Management Inc raised its holdings in shares of Teva Pharmaceutical Industries by 437.8% in the 1st quarter. Versant Capital Management Inc now owns 5,297 shares of the company's stock worth $81,000 after buying an additional 4,312 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Matthew Shields sold 6,206 shares of the company's stock in a transaction 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 transaction, the executive vice president 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEVA. Wall Street Zen downgraded shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Friday. Truist Financial began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They set a "buy" rating and a $25.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. Bank of America lifted their target price on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group initiated coverage on Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a "buy" rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $24.71.

Teva Pharmaceutical Industries Trading Up 1.9%

Shares of Teva Pharmaceutical Industries stock traded up $0.31 during trading on Monday, hitting $16.37. The company's stock had a trading volume of 4,671,768 shares, compared to its average volume of 10,314,770. The stock has a market cap of $18.77 billion, a price-to-earnings ratio of -14.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.60. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 0.74. Teva Pharmaceutical Industries Ltd. has a 52 week low of $12.47 and a 52 week high of $22.80. The stock has a 50-day moving average price of $17.01 and a two-hundred day moving average price of $16.91.

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

Teva Pharmaceutical Industries Profile

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.