Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC cut its Teva stake by 19.3% in the fourth quarter, selling 85,075 shares and ending with 356,600 shares valued at about $11.1 million.
• Teva insiders have been active sellers, including CEO Richard D. Francis and EVP Richard Daniell, with insiders selling 1.28 million shares worth about $42.8 million in the last quarter.
• Analysts remain mostly constructive on Teva, with nine Buy ratings and one Sell rating, and a consensus target price of $41.78 after several firms raised their price targets.

Gabelli Funds LLC lessened its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 356,600 shares of the company's stock after selling 85,075 shares during the quarter. Gabelli Funds LLC's holdings in Teva Pharmaceutical Industries were worth $11,129,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Teva Pharmaceutical Industries by 19.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company's stock worth $1,402,945,000 after buying an additional 7,255,083 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Teva Pharmaceutical Industries by 39,228.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company's stock worth $139,296,000 after buying an additional 6,878,304 shares during the last quarter. Farallon Capital Management LLC bought a new position in Teva Pharmaceutical Industries during the 3rd quarter worth approximately $100,939,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Teva Pharmaceutical Industries by 14.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company's stock worth $1,167,323,000 after buying an additional 4,820,000 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Teva Pharmaceutical Industries by 861,152.5% during the 4th quarter. Bessemer Group Inc. now owns 4,280,425 shares of the company's stock worth $133,592,000 after buying an additional 4,279,928 shares during the last quarter. Institutional investors and hedge funds own 54.05% of the company's stock.

Insider Activity at Teva Pharmaceutical Industries

In other news, CEO Richard D. Francis sold 442,935 shares of Teva Pharmaceutical Industries stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $32.36, for a total transaction of $14,333,376.60. Following the transaction, the chief executive officer directly owned 642,099 shares in the company, valued at approximately $20,778,323.64. This trade represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Daniell sold 30,000 shares of Teva Pharmaceutical Industries stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total value of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares in the company, valued at approximately $1,973,727. This trade represents a 34.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,280,269 shares of company stock worth $42,755,980 in the last quarter. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on TEVA. UBS Group increased their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Barclays increased their target price on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Finally, Truist Financial increased their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.78.

Teva Pharmaceutical Industries News Roundup

Here are the key news stories impacting Teva Pharmaceutical Industries this week:

• Positive Sentiment: Fitch upgraded Teva to investment grade, which may improve financing terms and highlights confidence in its turnaround execution. Fitch Upgrades Teva to Investment Grade Amid Pivot to Growth Execution
• Positive Sentiment: Analyst commentary says Teva’s branded drug growth, biosimilars, and improving margins support a stronger long-term outlook. Teva Stock Up More Than 100% in a Year: Time to Buy, Hold or Sell?
• Neutral Sentiment: Teva released new data showing many younger adults with mood disorders and tardive dyskinesia remain undiagnosed, supporting awareness of the company’s neuroscience market opportunity. Teva Study Finds Only 23% of Younger Adults with Mood Disorders and Tardive Dyskinesia (TD) Symptoms Are Formally Diagnosed with TD Despite Widespread Impact
• Negative Sentiment: An executive sold a sizable block of shares, which can weigh on sentiment even if it reflects routine portfolio activity. Eliyahu Sharon Kalif Sells 153,251 Shares of Teva Pharmaceutical Industries NYSE: TEVA Stock

Teva Pharmaceutical Industries Stock Up 0.3%

Shares of TEVA stock opened at $34.12 on Wednesday. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The stock has a market cap of $39.23 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.29 and a beta of 0.86. The business's fifty day moving average is $31.65 and its 200-day moving average is $30.70. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly 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 company had revenue of $3.98 billion for the quarter. Equities analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.49 earnings per share 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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