TIAA Trust National Association Sells 237,843 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• TIAA Trust National Association reduced its Teva stake by 36.2% in the fourth quarter, selling 237,843 shares and leaving it with 418,972 shares worth about $13.1 million.
• Wall Street sentiment remains constructive: several analysts raised price targets, and the stock currently carries a consensus rating of “Moderate Buy” with an average target price of $41.78.
• Teva recently reported quarterly EPS of $0.53 on revenue of $3.98 billion, while insiders also sold shares in recent months, including notable sales by Mark Sabag and Amir Weiss.

TIAA Trust National Association cut its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,972 shares of the company's stock after selling 237,843 shares during the quarter. TIAA Trust National Association's holdings in Teva Pharmaceutical Industries were worth $13,076,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Teva Pharmaceutical Industries by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 670,467 shares of the company's stock valued at $13,543,000 after purchasing an additional 69,000 shares during the period. Menora Mivtachim Holdings LTD. raised its position in shares of Teva Pharmaceutical Industries by 1.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company's stock valued at $786,190,000 after purchasing an additional 427,000 shares during the period. Victory Capital Management Inc. raised its position in shares of Teva Pharmaceutical Industries by 2.0% in the third quarter. Victory Capital Management Inc. now owns 2,360,762 shares of the company's stock valued at $47,687,000 after purchasing an additional 45,395 shares during the period. WealthTrust Asset Management LLC bought a new position in shares of Teva Pharmaceutical Industries in the third quarter valued at about $856,000. Finally, Hudson Bay Capital Management LP raised its position in shares of Teva Pharmaceutical Industries by 87.5% in the third quarter. Hudson Bay Capital Management LP now owns 225,000 shares of the company's stock valued at $4,545,000 after purchasing an additional 105,000 shares during the period. 54.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $34.35 on Wednesday. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35. The firm has a market cap of $39.50 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.39 and a beta of 0.84. The firm's 50-day simple moving average is $33.00 and its 200 day simple moving average is $31.81. 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 released 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 for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. As a group, sell-side analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.36 earnings per share for the current year.

Insider Activity

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the sale, the insider directly owned 80,760 shares in the company, valued at $2,825,792.40. This represents a 64.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amir Weiss sold 10,679 shares of the 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 owned 20,016 shares in the company, valued at $720,576. The trade was a 34.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 421,470 shares of company stock valued at $14,570,945. Company insiders own 0.54% of the company's stock.

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.

Want to see what other hedge funds are holding TEVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.