Pictet Asset Management SA Has $2.43 Million Stock Holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Pictet Asset Management SA trimmed its stake in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVAGet Rating) by 11.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,825 shares of the company’s stock after selling 42,625 shares during the quarter. Pictet Asset Management SA’s holdings in Teva Pharmaceutical Industries were worth $2,428,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Teva Pharmaceutical Industries by 3.7% in the 1st quarter. BlackRock Inc. now owns 41,648,716 shares of the company’s stock valued at $391,081,000 after acquiring an additional 1,494,814 shares during the period. Menora Mivtachim Holdings LTD. increased its position in Teva Pharmaceutical Industries by 1.3% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 23,310,610 shares of the company’s stock valued at $218,887,000 after acquiring an additional 308,328 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in Teva Pharmaceutical Industries by 8.1% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 18,962,766 shares of the company’s stock valued at $138,282,000 after acquiring an additional 1,424,200 shares during the period. Phoenix Holdings Ltd. increased its position in Teva Pharmaceutical Industries by 10.0% in the 1st quarter. Phoenix Holdings Ltd. now owns 16,699,401 shares of the company’s stock valued at $156,809,000 after acquiring an additional 1,513,100 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Teva Pharmaceutical Industries by 9.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,447,527 shares of the company’s stock valued at $86,085,000 after acquiring an additional 970,800 shares during the period. 46.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEVA has been the subject of several recent research reports. BMO Capital Markets decreased their price target on shares of Teva Pharmaceutical Industries from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Monday, November 7th. The Goldman Sachs Group upped their price objective on shares of Teva Pharmaceutical Industries from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. lowered shares of Teva Pharmaceutical Industries from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Monday, November 14th. StockNews.com assumed coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, UBS Group lowered shares of Teva Pharmaceutical Industries from a “neutral” rating to a “sell” rating in a research note on Friday, November 4th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.44.

Teva Pharmaceutical Industries Stock Up 1.3 %

Shares of NYSE TEVA opened at $8.83 on Tuesday. The firm has a market cap of $9.81 billion, a PE ratio of -7.61 and a beta of 1.27. Teva Pharmaceutical Industries Limited has a 12-month low of $6.78 and a 12-month high of $11.34. The company’s fifty day simple moving average is $8.55 and its 200 day simple moving average is $8.62. The company has a quick ratio of 0.66, a current ratio of 0.99 and a debt-to-equity ratio of 1.94.

Teva Pharmaceutical Industries (NYSE:TEVAGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.86 billion. Teva Pharmaceutical Industries had a positive return on equity of 26.97% and a negative net margin of 8.52%. As a group, sell-side analysts forecast that Teva Pharmaceutical Industries Limited will post 2.42 earnings per share for the current fiscal year.

Teva Pharmaceutical Industries Profile

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Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. The company offers sterile products, hormones, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams.

Further Reading

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Institutional Ownership by Quarter for Teva Pharmaceutical Industries (NYSE:TEVA)

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