Teva Pharmaceutical Industries Ltd. $TEVA Position Trimmed by Private Management Group Inc.

Key Points

• Private Management Group cut its Teva stake by 20.8% in the third quarter, selling 106,842 shares; it held 406,477 shares worth about $16.1 million afterward.
• Teva beat quarterly earnings expectations, reporting EPS of $0.86 versus $0.72 estimated and revenue of $4.39 billion versus $4.23 billion. Revenue was down 1.9% year over year.
• Analyst sentiment was broadly positive: 13 analysts rated the stock Buy, and the consensus was Moderate Buy with an average price target of $47.23. Insiders sold about $16.6 million in shares over the past 90 days.

Private Management Group Inc. decreased its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 20.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 406,477 shares of the company's stock after selling 106,842 shares during the period. Private Management Group Inc.'s holdings in Teva Pharmaceutical Industries were worth $16,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC boosted its stake in shares of Teva Pharmaceutical Industries by 191.4% during the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock worth $1,157,264,000 after purchasing an additional 26,813,522 shares during the period. SEB Asset Management AB purchased a new stake in Teva Pharmaceutical Industries in the 1st quarter worth about $59,551,000. Assenagon Asset Management S.A. raised its position in Teva Pharmaceutical Industries by 128.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,056,017 shares of the company's stock worth $103,538,000 after purchasing an additional 1,716,315 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Teva Pharmaceutical Industries by 2.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company's stock worth $1,384,216,000 after purchasing an additional 1,004,941 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in Teva Pharmaceutical Industries in the second quarter worth about $33,799,000. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Transactions at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 367,600 shares of the firm's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $39.06, for a total transaction of $14,358,456.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Sabag sold 46,000 shares of the firm's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $41.93, for a total value of $1,928,780.00. Following the transaction, the insider owned 80,760 shares in the company, valued at approximately $3,386,266.80. This represents a 36.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 420,942 shares of company stock valued at $16,572,473. 0.54% of the stock is currently owned by corporate insiders.

Teva Pharmaceutical Industries Stock Up 0.8%

Shares of NYSE TEVA opened at $42.97 on Tuesday. Teva Pharmaceutical Industries Ltd. has a 52-week low of $23.98 and a 52-week high of $43.34. The firm has a market capitalization of $50.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.92 and a beta of 0.97. The stock has a 50 day moving average price of $39.62 and a 200 day moving average price of $34.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.67 and a current ratio of 0.95.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.23 billion. Teva Pharmaceutical Industries had a return on equity of 33.20% and a net margin of 2.94%. Teva Pharmaceutical Industries's quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. Sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.98 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on TEVA. Zacks Research lowered Teva Pharmaceutical Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. UBS Group increased their price target on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, September 4th. Barclays raised their price target on Teva Pharmaceutical Industries from $42.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, October 15th. Leerink Partners raised their price target on Teva Pharmaceutical Industries from $45.00 to $52.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. Finally, Weiss Ratings upgraded Teva Pharmaceutical Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.23.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries is a global pharmaceutical company that develops, manufactures and markets generic medicines, specialty medicines and biosimilars. Its portfolio spans treatments for conditions including neurological disorders, respiratory diseases and cancer, alongside a broad range of generic medicines across therapeutic areas.

Founded in Jerusalem in 1901, Teva has grown from a regional pharmaceutical business into an international company. It serves patients and healthcare providers in markets around the world, including North America, Europe and other regions.

Teva is headquartered in Tel Aviv, Israel.

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