Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by Renaissance Group LLC

Renaissance Group LLC trimmed its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 7.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 291,915 shares of the company’s stock after selling 22,655 shares during the period. Renaissance Group LLC’s holdings in Teva Pharmaceutical Industries were worth $9,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Teva Pharmaceutical Industries during the fourth quarter worth $1,098,060,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock valued at $1,402,945,000 after purchasing an additional 7,255,083 shares during the last quarter. Wellington Management Group LLP increased its stake in Teva Pharmaceutical Industries by 39,228.4% during the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after purchasing an additional 6,878,304 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the third quarter worth $100,939,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 14.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock worth $1,167,323,000 after purchasing an additional 4,820,000 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the sale, the executive vice president directly owned 172,184 shares in the company, valued at approximately $6,131,472.24. The trade was a 47.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Daniell sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the sale, the executive vice president directly owned 55,755 shares of the company’s stock, valued at approximately $1,973,727. This represents a 34.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 421,470 shares of company stock valued at $14,570,945. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TEVA shares. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Piper Sandler reissued an “overweight” rating and issued a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Bank of America lifted their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Truist Financial upped their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and a consensus price target of $41.78.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $33.54 on Thursday. Teva Pharmaceutical Industries Ltd. has a 12-month low of $14.99 and a 12-month high of $37.35. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $38.57 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 3.51 and a beta of 0.84. The business has a 50 day simple moving average of $33.10 and a 200 day simple moving average of $31.87.

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

Teva Pharmaceutical Industries 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.