Lord Abbett & CO. LLC Reduces Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Lord Abbett & CO. LLC lowered its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,449,607 shares of the company’s stock after selling 26,356 shares during the quarter. Lord Abbett & CO. LLC owned 0.30% of Teva Pharmaceutical Industries worth $107,662,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its position in shares of Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock valued at $29,000 after buying an additional 329 shares in the last quarter. Grove Bank & Trust increased its position in shares of Teva Pharmaceutical Industries by 300.0% in the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company’s stock valued at $31,000 after buying an additional 750 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock valued at $42,000 after buying an additional 292 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its position in shares of Teva Pharmaceutical Industries by 1,823.2% in the fourth quarter. 1620 Investment Advisors Inc. now owns 1,577 shares of the company’s stock valued at $49,000 after buying an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Trading Up 0.0%

Teva Pharmaceutical Industries stock opened at $34.58 on Friday. The stock has a market cap of $39.75 billion, a PE ratio of 26.00, a P/E/G ratio of 3.53 and a beta of 0.84. The stock has a 50-day moving average price of $33.28 and a 200 day moving average price of $31.96. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The firm had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. Equities research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christine Fox sold 21,258 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $35.31, for a total transaction of $750,619.98. Following the completion of the sale, the executive vice president owned 63,647 shares in the company, valued at approximately $2,247,375.57. This trade represents a 25.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Daniell sold 30,000 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total value of $1,062,000.00. Following the sale, the executive vice president owned 55,755 shares of the company’s stock, valued at approximately $1,973,727. This represents a 34.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 421,470 shares of company stock worth $14,570,945 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TEVA shares. UBS Group raised their price target on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler restated an “overweight” rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research report on Thursday, April 30th. Wall Street Zen upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Bank of America lifted their price objective on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.78.

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.