Teva Pharmaceutical Industries Ltd. $TEVA is Rubric Capital Management LP's 4th Largest Position

Key Points

• Rubric Capital Management cut its Teva stake by 28.6% in the first quarter, selling 6.1 million shares. Teva remains the firm’s fourth-largest holding, representing 4.9% of its portfolio and about $459.3 million in value.
• Other major institutional investors increased their positions, and institutional ownership reached 54.05% of Teva’s outstanding stock. Teva reported quarterly revenue of $3.98 billion and earnings of $0.53 per share.
• Analyst sentiment remains generally positive, with nine Buy ratings and one Sell rating, an overall “Moderate Buy” consensus, and an average price target of $41.78 versus the reported share price of $31.08. However, Teva insiders sold roughly 465,931 shares worth $16.3 million over the prior 90 days.

Rubric Capital Management LP trimmed its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 28.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,250,000 shares of the company's stock after selling 6,105,510 shares during the quarter. Teva Pharmaceutical Industries accounts for 4.9% of Rubric Capital Management LP's portfolio, making the stock its 4th biggest holding. Rubric Capital Management LP owned about 1.33% of Teva Pharmaceutical Industries worth $459,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Teva Pharmaceutical Industries by 2.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company's stock worth $1,384,216,000 after buying an additional 1,004,941 shares during the last quarter. WCM Investment Management LLC raised its holdings in Teva Pharmaceutical Industries by 191.4% in the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock worth $1,157,264,000 after acquiring an additional 26,813,522 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Teva Pharmaceutical Industries by 18.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company's stock valued at $1,171,378,000 after acquiring an additional 5,917,423 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Teva Pharmaceutical Industries by 14.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock valued at $1,167,323,000 after purchasing an additional 4,820,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter worth $1,098,060,000. Hedge funds and other institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA opened at $31.08 on Tuesday. The firm has a market capitalization of $35.74 billion, a P/E ratio of 23.37, a PEG ratio of 3.25 and a beta of 0.86. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35. The business has a fifty day moving average of $33.23 and a 200 day moving average of $32.68.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. The company had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEVA. Wall Street Zen cut Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Friday, July 17th. Truist Financial boosted their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Insider Transactions at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $35.61, for a total value of $5,457,268.11. Following the transaction, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Daniell sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the transaction, the executive vice president owned 55,755 shares in the company, valued at $1,973,727. The trade was a 34.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 465,931 shares of company stock worth $16,332,989. 0.54% of the stock is currently owned by corporate insiders.

Teva Pharmaceutical Industries Company 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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