Teva Pharmaceutical Industries Ltd. $TEVA Shares Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its Teva stake by 6.8% in the fourth quarter, buying 228,189 more shares and ending with 3.61 million shares valued at about $112.6 million.
• Insider selling was significant, including recent sales by CAO Amir Weiss and EVP Eliyahu Sharon Kalif; in the last 90 days, insiders sold 934,459 shares worth about $31.1 million.
• Wall Street remains constructive on TEVA, with nine Buy ratings, one Sell rating, and a consensus Moderate Buy target of $41.78. Analysts at Truist, Bank of America, Goldman Sachs, Barclays, and Scotiabank all raised price targets.

Legal & General Group Plc boosted its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,608,387 shares of the company's stock after acquiring an additional 228,189 shares during the quarter. Legal & General Group Plc owned 0.31% of Teva Pharmaceutical Industries worth $112,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company's stock valued at $29,000 after acquiring an additional 329 shares during the last quarter. Grove Bank & Trust boosted its holdings in Teva Pharmaceutical Industries by 300.0% in the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after acquiring an additional 292 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its holdings in 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 valued at $49,000 after acquiring an additional 1,495 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, CAO Amir Weiss sold 10,679 shares of Teva Pharmaceutical Industries stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $36.00, for a total transaction of $384,444.00. Following the sale, the chief accounting officer directly owned 20,016 shares of the company's stock, valued at approximately $720,576. The trade was a 34.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $35.61, for a total value of $5,457,268.11. Following the sale, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. The trade was a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 934,459 shares of company stock valued at $31,122,931. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TEVA shares. Truist Financial lifted their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Bank of America lifted their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Scotiabank lifted their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company a "sector outperform" rating in a report on Thursday, January 29th. The Goldman Sachs Group boosted their price objective on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Finally, Barclays boosted their price objective on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Trading Down 0.0%

Shares of TEVA opened at $34.54 on Friday. The stock's 50-day moving average is $32.24 and its two-hundred day moving average is $31.30. The stock has a market cap of $39.72 billion, a PE ratio of 25.97, a P/E/G ratio of 3.34 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 debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78.

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

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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