Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI significantly reduced its holdings in Teva Pharmaceutical Industries by 98.5%, owning only 15,773 shares after selling over a million shares during the last quarter.
• Several institutional investors increased their stakes in Teva, with King Wealth Management Group boosting its holdings by an impressive 1,106.9% during the same period.
• Teva's recent earnings report showed an EPS of $0.66, beating expectations slightly, but with revenues of $4.18 billion falling short of analyst forecasts of $4.34 billion.

National Bank of Canada FI trimmed its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 98.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,773 shares of the company's stock after selling 1,003,753 shares during the period. National Bank of Canada FI's holdings in Teva Pharmaceutical Industries were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TEVA. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Teva Pharmaceutical Industries by 5.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,504,007 shares of the company's stock worth $38,487,000 after purchasing an additional 134,705 shares during the last quarter. Financial Sense Advisors Inc. boosted its holdings in shares of Teva Pharmaceutical Industries by 63.5% during the 1st quarter. Financial Sense Advisors Inc. now owns 405,421 shares of the company's stock worth $6,231,000 after purchasing an additional 157,421 shares during the last quarter. King Wealth Management Group boosted its holdings in shares of Teva Pharmaceutical Industries by 1,106.9% during the 1st quarter. King Wealth Management Group now owns 175,000 shares of the company's stock worth $2,690,000 after purchasing an additional 160,500 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 804.7% during the 1st quarter. GAMMA Investing LLC now owns 67,474 shares of the company's stock worth $1,037,000 after purchasing an additional 60,016 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Teva Pharmaceutical Industries by 1.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,335,422 shares of the company's stock worth $404,775,000 after purchasing an additional 300,000 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $17.86 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 2.45. The company has a market cap of $20.48 billion, a P/E ratio of -111.63, a PEG ratio of 1.06 and a beta of 0.62. Teva Pharmaceutical Industries Ltd. has a 52 week low of $12.47 and a 52 week high of $22.80. The company has a 50-day moving average price of $16.69 and a 200 day moving average price of $16.24.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. The company had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the company posted $0.61 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the transaction, the executive vice president directly owned 9,989 shares of the company's stock, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric A. Hughes sold 52,742 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $15.16, for a total transaction of $799,568.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,001 shares of company stock valued at $996,958. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

TEVA has been the topic of several recent research reports. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a "strong-buy" rating in a report on Monday, April 28th. Truist Financial initiated coverage on shares of Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They set a "buy" rating and a $25.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a "buy" rating and a $24.00 price target on the stock. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has a consensus rating of "Buy" and a consensus target price of $24.71.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.

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