X Square Capital LLC Makes New Investment in Teva Pharmaceutical Industries Ltd. $TEVA

Key Points

• X Square Capital acquired 56,230 Teva shares worth approximately $1.9 million in the second quarter. Institutional investors collectively own 54.05% of the company.
• Teva shares opened at $37.37, near their 52-week high of $37.83, after reporting quarterly revenue of $4.14 billion and EPS of $0.02.
• Analysts remain broadly positive, with nine Buy ratings and one Hold; the consensus rating is Moderate Buy with an average price target of $42.22.

X Square Capital LLC bought a new stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 56,230 shares of the company's stock, valued at approximately $1,905,000.

Several other institutional investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Teva Pharmaceutical Industries by 2.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company's stock worth $1,384,216,000 after purchasing an additional 1,004,941 shares during the last quarter. WCM Investment Management LLC grew its holdings in Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company's stock valued at $1,157,264,000 after purchasing an additional 26,813,522 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Teva Pharmaceutical Industries by 18.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company's stock valued at $1,171,378,000 after buying an additional 5,917,423 shares in the last quarter. Norges Bank purchased a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at $1,098,060,000. Finally, Rubric Capital Management LP raised its stake in shares of Teva Pharmaceutical Industries by 1.8% during the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company's stock worth $435,760,000 after buying an additional 450,000 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company's stock.

Insider Activity

In related news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the sale, the executive vice president owned 65,621 shares in the company, valued at approximately $2,237,676.10. This trade represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Teva Pharmaceutical Industries Trading Up 1.5%

Shares of TEVA stock opened at $37.37 on Friday. The company has a market capitalization of $43.55 billion, a price-to-earnings ratio of 62.28, a PEG ratio of 3.99 and a beta of 0.86. 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 firm has a 50-day moving average price of $33.82 and a 200 day moving average price of $33.13. Teva Pharmaceutical Industries Ltd. has a twelve month low of $17.82 and a twelve month high of $37.83.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $4.14 billion for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. Research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TEVA shares. Truist Financial boosted their price objective 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. Barclays raised their target price on shares of Teva Pharmaceutical Industries from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Teva Pharmaceutical Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Finally, UBS Group increased their price target on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of "Moderate Buy" and an average price target of $42.22.

Teva Pharmaceutical Industries Company 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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