Teva Pharmaceutical Industries Ltd. $TEVA Position Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its Teva stake by 8% in the fourth quarter, bringing its holdings to 1,082,578 shares valued at about $33.5 million.
• Several analysts turned more positive on Teva, with firms like JPMorgan, Truist, Scotiabank, and Barclays raising price targets; the stock now carries a Moderate Buy consensus and an average target of $41.78.
• Insider selling picked up recently, including large sales by EVP Christine Fox and insider Mark Sabag, while Teva reported quarterly EPS of $0.53 on revenue of $3.98 billion.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,578 shares of the company's stock after buying an additional 80,106 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Teva Pharmaceutical Industries worth $33,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Teva Pharmaceutical Industries by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,911 shares of the company's stock worth $382,000 after buying an additional 379 shares in the last quarter. Howard Bailey Securities LLC grew its holdings in Teva Pharmaceutical Industries by 3.5% in the 3rd quarter. Howard Bailey Securities LLC now owns 14,451 shares of the company's stock worth $292,000 after buying an additional 494 shares in the last quarter. ASR Vermogensbeheer N.V. grew its holdings in Teva Pharmaceutical Industries by 1.6% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 31,915 shares of the company's stock worth $645,000 after buying an additional 515 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Teva Pharmaceutical Industries by 15.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,020 shares of the company's stock worth $81,000 after buying an additional 540 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in Teva Pharmaceutical Industries by 1.8% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 33,230 shares of the company's stock worth $671,000 after buying an additional 588 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEVA. JPMorgan Chase & Co. increased their price objective on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. 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. Scotiabank increased their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company a "sector outperform" rating in a research note on Thursday, January 29th. Barclays increased their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Insider Buying and Selling

In other news, EVP Christine Fox sold 21,258 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $35.31, for a total value of $750,619.98. Following the completion of the sale, the executive vice president owned 63,647 shares in the company, valued at $2,247,375.57. This represents a 25.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Sabag sold 144,180 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the completion of the sale, the insider owned 80,760 shares of the company's stock, valued at $2,825,792.40. The trade was a 64.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,127,018 shares of company stock valued at $37,298,712. 0.54% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Price Performance

TEVA opened at $35.71 on Friday. The stock has a fifty day moving average of $31.28 and a 200-day moving average of $29.81. The firm has a market capitalization of $41.06 billion, a P/E ratio of 26.85, a PEG ratio of 3.45 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 12-month low of $14.99 and a 12-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 earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. Equities analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.49 EPS for the current fiscal year.

About Teva Pharmaceutical Industries

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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