Teva Pharmaceutical Industries Ltd. $TEVA Holdings Lowered by Sound Shore Management Inc. CT

Key Points

• Sound Shore Management cut its Teva stake by 23.7% in the fourth quarter, selling 1.34 million shares and leaving it with 4.31 million shares worth about $134.5 million. Teva remains its second-largest holding.
• Several insiders sold shares recently, including EVP Eliyahu Sharon Kalif and insider Mark Sabag, contributing to 421,470 shares sold in the last quarter. Corporate insiders now own just 0.54% of the stock.
• Wall Street sentiment is still mostly positive: nine analysts rate Teva a Buy and one a Sell, with an average target price of $41.78. The stock was trading at $32.72, after the company reported quarterly EPS of $0.53 and revenue of $3.98 billion.

Sound Shore Management Inc. CT cut its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,309,906 shares of the company's stock after selling 1,337,543 shares during the quarter. Teva Pharmaceutical Industries accounts for approximately 4.3% of Sound Shore Management Inc. CT's holdings, making the stock its 2nd biggest holding. Sound Shore Management Inc. CT owned approximately 0.38% of Teva Pharmaceutical Industries worth $134,512,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in shares of Teva Pharmaceutical Industries by 53.8% during the fourth quarter. Allworth Financial LP now owns 941 shares of the company's stock worth $29,000 after acquiring an additional 329 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Teva Pharmaceutical Industries by 300.0% in the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock worth $42,000 after purchasing an additional 292 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its holdings in shares of Teva Pharmaceutical Industries by 1,823.2% in the fourth quarter. 1620 Investment Advisors Inc. now owns 1,577 shares of the company's stock worth $49,000 after purchasing an additional 1,495 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the sale, the executive vice president owned 172,184 shares in the company, valued at approximately $6,131,472.24. The trade was a 47.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Sabag sold 144,180 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the sale, the insider owned 80,760 shares in the company, valued at approximately $2,825,792.40. This trade represents a 64.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 421,470 shares of company stock worth $14,570,945. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Truist Financial raised their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $32.72 on Thursday. The stock has a market cap of $37.62 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 3.37 and a beta of 0.84. The firm's fifty day simple moving average is $32.62 and its 200 day simple moving average is $31.55. Teva Pharmaceutical Industries Ltd. has a twelve month low of $14.99 and a twelve month high of $37.35. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The business had revenue of $3.98 billion for the quarter. As a group, research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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