Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by Atika Capital Management LLC

Key Points

• Atika Capital Management cut its Teva Pharmaceutical Industries stake by 33.8% in the first quarter, selling 243,000 shares and leaving it with 477,000 shares worth about $14.4 million.
• Institutional ownership remains strong, with 54.05% of Teva’s stock held by hedge funds and other institutional investors; several large funds, including Norges Bank and WCM Investment Management, also increased or established positions.
• Analyst sentiment is mostly positive: Teva has a consensus “Moderate Buy” rating with an average price target of $41.78, even though Wall Street Zen recently downgraded the stock from buy to hold.

Atika Capital Management LLC trimmed its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 477,000 shares of the company's stock after selling 243,000 shares during the period. Teva Pharmaceutical Industries comprises about 1.8% of Atika Capital Management LLC's portfolio, making the stock its 12th largest holding. Atika Capital Management LLC's holdings in Teva Pharmaceutical Industries were worth $14,367,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at approximately $1,098,060,000. WCM Investment Management LLC lifted its position in shares of Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock valued at $1,157,264,000 after acquiring an additional 26,813,522 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Teva Pharmaceutical Industries by 19.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company's stock worth $1,402,945,000 after acquiring an additional 7,255,083 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Teva Pharmaceutical Industries by 39,228.4% in the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company's stock worth $139,296,000 after acquiring an additional 6,878,304 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Teva Pharmaceutical Industries by 18.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company's stock worth $1,171,378,000 after purchasing an additional 5,917,423 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEVA has been the subject of several recent research reports. Wall Street Zen downgraded Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. UBS Group upped their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Truist Financial increased their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Barclays raised their price target on shares of 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, Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of "Moderate Buy" and a consensus price target of $41.78.

Teva Pharmaceutical Industries Trading Up 3.3%

Shares of TEVA opened at $31.16 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Teva Pharmaceutical Industries Ltd. has a 12-month low of $14.99 and a 12-month high of $37.35. The firm has a 50-day moving average price of $33.36 and a 200 day moving average price of $32.69. The firm has a market capitalization of $35.82 billion, a P/E ratio of 23.43, a P/E/G ratio of 3.18 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The company had revenue of $3.98 billion for the quarter. Sell-side analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.99 EPS for the current year.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Richard Daniell sold 30,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the transaction, the executive vice president directly owned 55,755 shares in the company, valued at approximately $1,973,727. This represents a 34.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total transaction of $384,444.00. Following the completion of the transaction, the chief accounting officer directly owned 20,016 shares in the company, valued at $720,576. The trade was a 34.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 465,931 shares of company stock valued at $16,332,989 over the last 90 days. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries 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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