DAVENPORT & Co LLC Has $6.84 Million Stock Position in Teva Pharmaceutical Industries Ltd. $TEVA

DAVENPORT & Co LLC cut its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 338,705 shares of the company’s stock after selling 24,817 shares during the period. DAVENPORT & Co LLC’s holdings in Teva Pharmaceutical Industries were worth $6,842,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in Teva Pharmaceutical Industries during the 2nd quarter worth $41,000. Sound Income Strategies LLC boosted its stake in shares of Teva Pharmaceutical Industries by 3,715.8% during the second quarter. Sound Income Strategies LLC now owns 2,900 shares of the company’s stock valued at $49,000 after purchasing an additional 2,824 shares in the last quarter. MAI Capital Management boosted its stake in shares of Teva Pharmaceutical Industries by 26.8% during the second quarter. MAI Capital Management now owns 3,293 shares of the company’s stock valued at $55,000 after purchasing an additional 697 shares in the last quarter. CWM LLC grew its holdings in shares of Teva Pharmaceutical Industries by 18.1% during the second quarter. CWM LLC now owns 4,995 shares of the company’s stock worth $84,000 after purchasing an additional 767 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Teva Pharmaceutical Industries by 15.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,474 shares of the company’s stock valued at $92,000 after buying an additional 715 shares during the period. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Price Performance

TEVA stock opened at $31.77 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 1.90 and a beta of 0.67. The company’s fifty day simple moving average is $25.37 and its 200 day simple moving average is $20.44. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $31.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEVA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Scotiabank assumed coverage on Teva Pharmaceutical Industries in a report on Friday, December 5th. They issued a “sector outperform” rating and a $35.00 price objective for the company. Finally, Piper Sandler raised their target price on Teva Pharmaceutical Industries from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $32.88.

Insiders Place Their Bets

In related news, VP Richard Daniell sold 115,468 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total transaction of $3,311,622.24. Following the completion of the sale, the vice president owned 48,384 shares of the company’s stock, valued at $1,387,653.12. This trade represents a 70.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roberto Mignone sold 77,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $30.24, for a total value of $2,340,576.00. Following the completion of the transaction, the director directly owned 367,600 shares in the company, valued at approximately $11,116,224. This trade represents a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 622,060 shares of company stock worth $17,076,965 in the last quarter. 0.49% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.