Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,609,696 shares of the company’s stock after selling 11,648 shares during the period. Bank of New York Mellon Corp owned about 0.14% of Teva Pharmaceutical Industries worth $24,741,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Teva Pharmaceutical Industries by 197,885.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company’s stock valued at $338,989,000 after acquiring an additional 22,044,407 shares during the period. FMR LLC boosted its holdings in Teva Pharmaceutical Industries by 30.7% in the 4th quarter. FMR LLC now owns 81,983,231 shares of the company’s stock valued at $1,806,910,000 after purchasing an additional 19,242,468 shares during the period. Duquesne Family Office LLC raised its stake in shares of Teva Pharmaceutical Industries by 530.1% in the 4th quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company’s stock valued at $198,303,000 after buying an additional 7,569,450 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Teva Pharmaceutical Industries by 472.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company’s stock worth $96,078,000 after purchasing an additional 5,186,592 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Teva Pharmaceutical Industries by 416.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company’s stock valued at $91,973,000 after acquiring an additional 4,824,247 shares in the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $16.02 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. Teva Pharmaceutical Industries Ltd. has a 1-year low of $12.47 and a 1-year high of $22.80. The business has a 50 day moving average of $17.06 and a 200 day moving average of $17.06. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of -13.93, a PEG ratio of 0.94 and a beta of 0.60.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Matthew Shields sold 6,206 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the sale, the executive vice president directly owned 9,989 shares of the company’s stock, valued at $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TEVA. The Goldman Sachs Group assumed coverage on shares of Teva Pharmaceutical Industries in a report on Friday, June 6th. They set a “buy” rating and a $24.00 target price on the stock. Wall Street Zen raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Truist Financial assumed coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a “buy” rating and a $25.00 target price on the stock. UBS Group cut their target price on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Hsbc Global Res upgraded Teva Pharmaceutical Industries to a “strong-buy” rating in a research note on Monday, April 28th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.71.

Teva Pharmaceutical Industries Company 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.