Truist Financial Corp Reduces Stake in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Truist Financial Corp has reduced its stake in Teva Pharmaceutical Industries Ltd. by 20.6% in the second quarter, now owning approximately $16.96 million worth of shares.
• Insider transactions reflect significant selling, with two insiders selling a combined total of 58,795 shares on August 1st, affecting their ownership percentages notably.
• Teva's stock is currently valued at $20.01 with a 1-year low of $12.47 and a high of $22.80, amidst various institutional investor activity and analyst price target adjustments.

Truist Financial Corp reduced its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,011,690 shares of the company's stock after selling 261,940 shares during the quarter. Truist Financial Corp owned 0.09% of Teva Pharmaceutical Industries worth $16,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in 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 acquiring an additional 60,016 shares during the period. Rhumbline Advisers raised its position in shares of Teva Pharmaceutical Industries by 0.8% during the 1st quarter. Rhumbline Advisers now owns 281,062 shares of the company's stock valued at $4,320,000 after purchasing an additional 2,128 shares during the period. Gateway Investment Advisers LLC lifted its stake in shares of Teva Pharmaceutical Industries by 18.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 48,716 shares of the company's stock valued at $749,000 after buying an additional 7,749 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Teva Pharmaceutical Industries by 1.9% in the 1st quarter. Yousif Capital Management LLC now owns 55,986 shares of the company's stock worth $861,000 after buying an additional 1,033 shares during the period. Finally, Handelsbanken Fonder AB purchased a new stake in Teva Pharmaceutical Industries in the 1st quarter worth $243,000. Institutional investors own 54.05% of the company's stock.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Placid Jover sold 6,053 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 $91,763.48. Following the completion of the sale, the insider directly owned 6,774 shares of the company's stock, valued at approximately $102,693.84. This represents a 47.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $15.16, for a total value of $799,568.72. The disclosure for this sale can be found here. Insiders own 0.49% of the company's stock.

Teva Pharmaceutical Industries Stock Down 0.2%

Shares of NYSE:TEVA opened at $20.01 on Friday. Teva Pharmaceutical Industries Ltd. has a 1 year low of $12.47 and a 1 year high of $22.80. The firm has a market capitalization of $22.94 billion, a PE ratio of -125.03, a price-to-earnings-growth ratio of 1.17 and a beta of 0.71. The business has a 50 day simple moving average of $18.12 and a two-hundred day simple moving average of $16.81. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.06 and a quick ratio of 0.77.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. Teva Pharmaceutical Industries has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TEVA. The Goldman Sachs Group began coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $24.00 price objective on the stock. UBS Group boosted their price target on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of "Buy" and a consensus price target of $25.57.

About Teva Pharmaceutical Industries

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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