Fifth Third Bancorp Buys 3,265 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Fifth Third Bancorp lifted its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,985 shares of the company’s stock after buying an additional 3,265 shares during the period. Fifth Third Bancorp’s holdings in Teva Pharmaceutical Industries were worth $338,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TEVA. Thrivent Financial for Lutherans lifted its stake in Teva Pharmaceutical Industries by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 225,210 shares of the company’s stock worth $4,964,000 after purchasing an additional 699 shares during the period. Townsquare Capital LLC lifted its stake in Teva Pharmaceutical Industries by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 40,162 shares of the company’s stock worth $885,000 after purchasing an additional 812 shares during the period. Metis Global Partners LLC lifted its stake in Teva Pharmaceutical Industries by 6.7% during the fourth quarter. Metis Global Partners LLC now owns 13,697 shares of the company’s stock worth $302,000 after purchasing an additional 860 shares during the period. Quadrant Capital Group LLC lifted its stake in Teva Pharmaceutical Industries by 27.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company’s stock worth $96,000 after purchasing an additional 949 shares during the period. Finally, Blair William & Co. IL lifted its stake in Teva Pharmaceutical Industries by 9.4% during the fourth quarter. Blair William & Co. IL now owns 11,232 shares of the company’s stock worth $248,000 after purchasing an additional 963 shares during the period. Institutional investors own 54.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hsbc Global Res upgraded shares of Teva Pharmaceutical Industries to a “strong-buy” rating in a research note on Monday, April 28th. Bank of America raised their price target on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group began coverage on shares of Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a “buy” rating and a $24.00 target price for the company. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Truist Financial began coverage on shares of Teva Pharmaceutical Industries in a research note on Wednesday, May 28th. They issued a “buy” rating and a $25.00 target price for the company. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.44.

Teva Pharmaceutical Industries Stock Performance

TEVA stock opened at $17.07 on Thursday. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 0.74. The company has a 50 day moving average price of $16.23 and a 200 day moving average price of $17.42. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $12.47 and a fifty-two week high of $22.80. The stock has a market capitalization of $19.58 billion, a PE ratio of -14.84, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 7.74% and a positive return on equity of 45.44%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company posted $0.48 EPS. Teva Pharmaceutical Industries’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the completion of the transaction, the executive vice president now directly owns 9,989 shares of the company’s stock, valued at approximately $170,012.78. This represents a 38.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.49% of the company’s stock.

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.