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

Key Points

• Sterling Capital Management cut its Teva stake by 47.5% in Q1, selling 408,196 shares and leaving it with 450,992 shares worth about $13.6 million.
• Insiders also reduced holdings, with EVPs Richard Daniell and Eliyahu Sharon Kalif selling shares in May; company insiders sold 465,931 shares worth $16.3 million over the last three months.
• Analysts remain mostly bullish on Teva, with nine Buy ratings and a consensus price target of $41.78, while the stock recently traded around $33.24 after reporting quarterly EPS of $0.53 on revenue of $3.98 billion.

Sterling Capital Management LLC trimmed its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 47.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,992 shares of the company's stock after selling 408,196 shares during the period. Sterling Capital Management LLC's holdings in Teva Pharmaceutical Industries were worth $13,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in Teva Pharmaceutical Industries during the 4th quarter worth approximately $1,098,060,000. 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 valued at $1,402,945,000 after buying an additional 7,255,083 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 purchasing an additional 6,878,304 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in 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 buying an additional 5,917,423 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Teva Pharmaceutical Industries by 261.1% in the 4th quarter. Schroder Investment Management Group now owns 7,426,885 shares of the company's stock worth $231,793,000 after acquiring an additional 5,370,253 shares during the period. Institutional investors and hedge funds own 54.05% of the company's stock.

Insiders Place Their Bets

In related news, EVP Richard Daniell sold 30,000 shares of the company's 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 $1,973,727. This represents a 34.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the completion of the sale, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. This trade represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 465,931 shares of company stock worth $16,332,989. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Trading Down 1.1%

TEVA opened at $33.24 on Friday. 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 Ltd. has a 12-month low of $14.99 and a 12-month high of $37.35. The firm's fifty day moving average price is $33.73 and its 200 day moving average price is $32.39. The stock has a market capitalization of $38.22 billion, a PE ratio of 24.99, a P/E/G ratio of 4.11 and a beta of 0.84.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The business had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. As a group, research analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. 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 research report on Thursday, April 30th. UBS Group boosted their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Finally, Bank of America upped their price target on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.78.

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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