Truist Financial Corp Sells 296,745 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• Truist Financial cut its Teva stake by 30.5% in Q4, selling 296,745 shares and now holding 676,170 shares valued at about $21.1 million (≈0.06% of the company).
• Insiders have been large net sellers: EVP Eliyahu Sharon Kalif sold 345,810 shares and CEO Richard D. Francis sold 442,935 shares, with insiders disposing of 1,086,339 shares (~$35.85M) in the past three months.
• Analysts are more positive: Goldman Sachs raised its target to $45 with a "buy," and the consensus rating is a "Moderate Buy" with an average target of $41.78 (nine Buys, one Sell).

Truist Financial Corp lessened its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) by 30.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 676,170 shares of the company's stock after selling 296,745 shares during the quarter. Truist Financial Corp owned 0.06% of Teva Pharmaceutical Industries worth $21,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC acquired a new position in Teva Pharmaceutical Industries in the 4th quarter worth $818,000. Nkcfo LLC acquired a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $2,341,000. Fifth Third Bancorp lifted its holdings in shares of Teva Pharmaceutical Industries by 7.3% in the fourth quarter. Fifth Third Bancorp now owns 31,800 shares of the company's stock valued at $992,000 after purchasing an additional 2,155 shares in the last quarter. Danske Bank A S boosted its position in shares of Teva Pharmaceutical Industries by 9.8% during the fourth quarter. Danske Bank A S now owns 272,539 shares of the company's stock worth $8,506,000 after buying an additional 24,400 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Teva Pharmaceutical Industries during the fourth quarter worth about $47,857,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Piper Sandler reiterated an "overweight" rating and issued a $42.00 price objective (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. 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 research report on Wednesday. Finally, Wall Street Zen cut shares of Teva Pharmaceutical Industries from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Nine equities 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 has an average rating of "Moderate Buy" and a consensus target price of $41.78.

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA opened at $36.36 on Thursday. The firm has a market capitalization of $41.81 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The firm's fifty day moving average price is $31.24 and its two-hundred day moving average price is $29.69. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The company had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. As a group, research analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.49 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, EVP Eliyahu Sharon Kalif sold 345,810 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $33.64, for a total transaction of $11,633,048.40. Following the transaction, the executive vice president directly owned 57,478 shares of the company's stock, valued at approximately $1,933,559.92. The trade was a 85.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard D. Francis sold 442,935 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $32.36, for a total value of $14,333,376.60. Following the completion of the sale, the chief executive officer owned 642,099 shares in the company, valued at approximately $20,778,323.64. This trade represents a 40.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,086,339 shares of company stock valued at $35,852,268 in the last three months. Corporate 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.

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