Teva Pharmaceutical Industries Ltd. $TEVA Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Teva stake by 11.2% in the first quarter, acquiring 96,938 additional shares and bringing its holdings to 963,824 shares worth approximately $29.03 million. Institutional investors and hedge funds collectively own 54.05% of Teva.
• Analyst sentiment remains favorable, with nine analysts rating Teva a Buy and one assigning a Hold rating. The consensus rating is “Moderate Buy,” with an average price target of $42, above the reported share price of $34.42.
• Teva reported quarterly revenue of $4.14 billion and earnings of $0.02 per share, while an executive vice president sold 106,563 shares at an average price of $34.10. Insiders own just 0.54% of the company.

Royal Bank of Canada lifted its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 963,824 shares of the company's stock after acquiring an additional 96,938 shares during the period. Royal Bank of Canada owned 0.08% of Teva Pharmaceutical Industries worth $29,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TEVA. Aster Capital Management DIFC Ltd acquired a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its stake in shares of Teva Pharmaceutical Industries by 547.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock worth $27,000 after purchasing an additional 755 shares during the period. Allworth Financial LP grew its holdings in Teva Pharmaceutical Industries by 53.8% in the 4th quarter. Allworth Financial LP now owns 941 shares of the company's stock valued at $29,000 after buying an additional 329 shares during the period. EverSource Wealth Advisors LLC increased its position in Teva Pharmaceutical Industries by 51.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Teva Pharmaceutical Industries by 567.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,334 shares of the company's stock worth $42,000 after buying an additional 1,134 shares during the period. Institutional investors and hedge funds own 54.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEVA shares. Wall Street Zen downgraded Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday. Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Barclays upped 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. Finally, UBS Group boosted their price objective on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Teva Pharmaceutical Industries has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Teva Pharmaceutical Industries Stock Down 0.1%

Shares of NYSE:TEVA opened at $34.42 on Wednesday. The business's 50 day moving average is $33.24 and its 200 day moving average is $32.76. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 57.37, a PEG ratio of 3.64 and a beta of 0.86. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. Teva Pharmaceutical Industries Ltd. has a 12-month low of $15.55 and a 12-month high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. The firm had revenue of $4.14 billion for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. On average, sell-side analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the transaction, the executive vice president directly owned 65,621 shares of the company's stock, valued at approximately $2,237,676.10. This trade represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

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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