The Manufacturers Life Insurance Company Sells 155,079 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• The Manufacturers Life Insurance Company cut its Teva stake by 30.8% in the first quarter, selling 155,079 shares and retaining 348,898 shares valued at approximately $10.5 million. Institutional investors collectively own 54.05% of Teva.
• Teva insiders sold 270,493 shares worth about $9.48 million over the past quarter, including substantial sales by EVP Eliyahu Sharon Kalif and CAO Amir Weiss.
• Analysts remain broadly optimistic: Teva has a consensus “Moderate Buy” rating and an average price target of $42, compared with shares opening at $34.39.

The Manufacturers Life Insurance Company decreased its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 30.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,898 shares of the company's stock after selling 155,079 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Teva Pharmaceutical Industries were worth $10,509,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new stake in Teva Pharmaceutical Industries during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in shares of Teva Pharmaceutical Industries by 547.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock valued at $27,000 after acquiring an additional 755 shares in the last quarter. Allworth Financial LP grew its holdings in shares of 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 acquiring an additional 329 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company's stock valued at $42,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 54.05% of the company's stock.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.61, for a total value of $5,457,268.11. Following the transaction, the executive vice president directly owned 172,184 shares of the company's stock, valued at $6,131,472.24. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amir Weiss sold 10,679 shares of Teva Pharmaceutical Industries stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $36.00, for a total transaction of $384,444.00. Following the sale, the chief accounting officer directly owned 20,016 shares of the company's stock, valued at $720,576. The trade was a 34.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 270,493 shares of company stock worth $9,475,510. Corporate insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE TEVA opened at $34.39 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $39.54 billion, a P/E ratio of 57.32, a P/E/G ratio of 3.70 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 12 month low of $15.46 and a 12 month high of $37.35. The stock has a 50 day moving average of $33.24 and a 200-day moving average of $32.75.

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

Analyst Ratings Changes

Several research analysts recently commented on TEVA shares. Wall Street Zen cut Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Bank of America boosted their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Piper Sandler upped their price objective on Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. UBS Group increased their price objective on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Teva Pharmaceutical Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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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