Teva Pharmaceutical Industries Ltd. $TEVA is Todd Asset Management LLC's Largest Position

Key Points

• Todd Asset Management trimmed its Teva stake by 6.4% in the fourth quarter, but Teva remains its largest position, representing 2.3% of the portfolio and about $117.9 million in value.
• Insider selling has been notable, with CEO Richard D. Francis and EVP Christine Fox both selling shares; over the last 90 days, insiders sold 1.28 million shares worth about $42.8 million.
• Wall Street sentiment remains positive, with nine Buy ratings and a consensus “Moderate Buy” rating, while analysts’ average price target stands at $41.78, above the stock’s recent trading price of $34.04.

Todd Asset Management LLC trimmed its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,777,137 shares of the company's stock after selling 259,460 shares during the quarter. Teva Pharmaceutical Industries accounts for 2.3% of Todd Asset Management LLC's portfolio, making the stock its largest position. Todd Asset Management LLC owned about 0.33% of Teva Pharmaceutical Industries worth $117,885,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Phoenix Financial Ltd. lifted its position in shares of Teva Pharmaceutical Industries by 9.4% in the third quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company's stock worth $834,164,000 after purchasing an additional 3,533,800 shares in the last quarter. National Pension Service lifted its position in shares of Teva Pharmaceutical Industries by 24.2% in the third quarter. National Pension Service now owns 2,073,293 shares of the company's stock worth $41,881,000 after purchasing an additional 404,526 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Teva Pharmaceutical Industries by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 670,467 shares of the company's stock worth $13,543,000 after purchasing an additional 69,000 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Teva Pharmaceutical Industries by 11.2% in the third quarter. Teacher Retirement System of Texas now owns 697,574 shares of the company's stock worth $14,091,000 after purchasing an additional 69,994 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Teva Pharmaceutical Industries in the third quarter worth approximately $4,029,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, CEO Richard D. Francis sold 442,935 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $32.36, for a total transaction of $14,333,376.60. Following the transaction, the chief executive officer owned 642,099 shares in the company, valued at $20,778,323.64. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christine Fox sold 21,258 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $35.31, for a total value of $750,619.98. Following the transaction, the executive vice president owned 63,647 shares in the company, valued at approximately $2,247,375.57. This trade represents a 25.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,280,269 shares of company stock valued at $42,755,980. 0.54% of the stock is owned by company insiders.

Teva Pharmaceutical Industries Trading Down 0.1%

NYSE:TEVA opened at $34.04 on Monday. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The stock's 50 day moving average price is $31.83 and its 200 day moving average price is $30.99. The company has a market capitalization of $39.13 billion, a P/E ratio of 25.59, a P/E/G ratio of 3.29 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The company had revenue of $3.98 billion for the quarter. On average, research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEVA has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Bank of America increased their price objective on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Barclays increased their price objective on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Truist Financial increased their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Teva Pharmaceutical Industries from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.78.

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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