Envestnet Asset Management Inc. Cuts Stock Position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Envestnet Asset Management Inc. cut its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 5.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,921,762 shares of the company’s stock after selling 116,779 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Teva Pharmaceutical Industries worth $29,537,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Teva Pharmaceutical Industries by 14.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,028,924 shares of the company’s stock worth $22,677,000 after buying an additional 129,749 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Teva Pharmaceutical Industries by 32.3% in the fourth quarter. HighTower Advisors LLC now owns 196,657 shares of the company’s stock worth $4,334,000 after acquiring an additional 48,052 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Teva Pharmaceutical Industries by 1,371.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 9,165 shares of the company’s stock worth $202,000 after acquiring an additional 8,542 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Teva Pharmaceutical Industries by 45.3% during the fourth quarter. Farther Finance Advisors LLC now owns 6,592 shares of the company’s stock valued at $145,000 after acquiring an additional 2,054 shares in the last quarter. Finally, Vestcor Inc boosted its stake in Teva Pharmaceutical Industries by 13.4% in the 4th quarter. Vestcor Inc now owns 16,896 shares of the company’s stock worth $372,000 after purchasing an additional 1,990 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.02, for a total value of $105,626.12. Following the sale, the executive vice president owned 9,989 shares in the company, valued at $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by company insiders.

Teva Pharmaceutical Industries Stock Up 0.2%

Shares of TEVA stock opened at $16.43 on Tuesday. Teva Pharmaceutical Industries Ltd. has a twelve month low of $12.47 and a twelve month high of $22.80. The stock has a market cap of $18.84 billion, a P/E ratio of -14.28, a P/E/G ratio of 0.84 and a beta of 0.60. The stock has a 50 day moving average of $17.09 and a 200 day moving average of $17.12. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $0.48 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports 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. Truist Financial assumed coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They issued a “buy” rating and a $25.00 target price on the stock. Wall Street Zen upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and upped their target price for the company from $21.00 to $23.00 in a research report on Monday, May 12th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.71.

Teva Pharmaceutical Industries Profile

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.