Fred Alger Management LLC Sells 2,558 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Fred Alger Management LLC lessened its holdings in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 139,793 shares of the company’s stock after selling 2,558 shares during the period. Fred Alger Management LLC’s holdings in Teva Pharmaceutical Industries were worth $3,081,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DME Capital Management LP increased its position in shares of Teva Pharmaceutical Industries by 44.2% during the fourth quarter. DME Capital Management LP now owns 468,550 shares of the company’s stock worth $10,327,000 after acquiring an additional 143,700 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Teva Pharmaceutical Industries by 2.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 118,394 shares of the company’s stock worth $2,609,000 after purchasing an additional 2,644 shares in the last quarter. Duquesne Family Office LLC raised its stake in shares of Teva Pharmaceutical Industries by 530.1% in the fourth quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company’s stock worth $198,303,000 after purchasing an additional 7,569,450 shares during the last quarter. Crestline Management LP bought a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at approximately $1,220,000. Finally, Cutter Capital Management LP purchased a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at approximately $12,891,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TEVA shares. UBS Group lowered their price target on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Piper Sandler raised their price target on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Bank of America upped their price objective on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday. Hsbc Global Res raised shares of Teva Pharmaceutical Industries to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Barclays reduced their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Teva Pharmaceutical Industries has a consensus rating of “Buy” and an average price target of $23.71.

Teva Pharmaceutical Industries Trading Down 6.3 %

Shares of TEVA stock opened at $16.94 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. The firm has a market cap of $19.21 billion, a P/E ratio of -11.68, a PEG ratio of 1.44 and a beta of 0.62. The company has a 50 day moving average of $15.18 and a 200-day moving average of $17.46. Teva Pharmaceutical Industries Limited has a 12-month low of $12.47 and a 12-month high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current year.

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.