Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 13.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,435 shares of the company’s stock after selling 12,036 shares during the period. Principal Financial Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Oarsman Capital Inc. purchased a new stake in Teva Pharmaceutical Industries during the 4th quarter worth about $29,000. Golden State Wealth Management LLC purchased a new position in shares of Teva Pharmaceutical Industries during the 1st quarter worth approximately $39,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $44,000. Compagnie Lombard Odier SCmA acquired a new position in Teva Pharmaceutical Industries during the first quarter worth $54,000. Finally, Versant Capital Management Inc raised its holdings in Teva Pharmaceutical Industries by 437.8% during the first quarter. Versant Capital Management Inc now owns 5,297 shares of the company’s stock worth $81,000 after purchasing an additional 4,312 shares during the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

TEVA opened at $16.08 on Friday. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of -13.98, a price-to-earnings-growth ratio of 0.94 and a beta of 0.60. 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 price of $17.01 and a two-hundred day moving average price of $16.94.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings data 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 firm earned $0.48 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, the executive vice president directly owned 9,989 shares in the company, valued at approximately $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

TEVA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $23.00 in a research report on Monday, May 12th. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research note on Friday, June 6th. They set a “buy” rating and a $24.00 price objective on the stock. Hsbc Global Res upgraded Teva Pharmaceutical Industries to a “strong-buy” rating in a research note on Monday, April 28th. Wall Street Zen cut Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Truist Financial started coverage on Teva Pharmaceutical Industries in a report on Wednesday, May 28th. They issued a “buy” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Teva Pharmaceutical Industries 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.