Norges Bank Purchases New Shares in Teva Pharmaceutical Industries Ltd. $TEVA

Norges Bank acquired a new position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) in the 4th quarter, Holdings Channel.com reports. The firm acquired 35,182,949 shares of the company’s stock, valued at approximately $1,098,060,000.

Several other institutional investors also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Teva Pharmaceutical Industries by 19.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock worth $1,402,945,000 after buying an additional 7,255,083 shares during the period. Menora Mivtachim Holdings LTD. grew its position in shares of Teva Pharmaceutical Industries by 1.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock valued at $786,190,000 after purchasing an additional 427,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Teva Pharmaceutical Industries by 14.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock valued at $1,167,323,000 after purchasing an additional 4,820,000 shares during the period. Rubric Capital Management LP grew its position in shares of Teva Pharmaceutical Industries by 1.8% in the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company’s stock valued at $435,760,000 after purchasing an additional 450,000 shares during the period. Finally, Duquesne Family Office LLC boosted its position in Teva Pharmaceutical Industries by 3.9% during the 3rd quarter. Duquesne Family Office LLC now owns 16,593,935 shares of the company’s stock worth $335,197,000 after acquiring an additional 625,000 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Richard Daniell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total value of $1,062,000.00. Following the sale, the executive vice president directly owned 55,755 shares of the company’s stock, valued at $1,973,727. This trade represents a 34.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christine Fox sold 21,258 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $35.31, for a total value of $750,619.98. Following the completion of the transaction, the executive vice president owned 63,647 shares of the company’s stock, valued at $2,247,375.57. This represents a 25.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 934,459 shares of company stock valued at $31,122,931 over the last ninety days. 0.54% of the stock is owned by insiders.

Teva Pharmaceutical Industries Stock Performance

TEVA opened at $35.32 on Friday. The firm has a market cap of $40.61 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 3.42 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 52-week low of $14.99 and a 52-week high of $37.35. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The business’s fifty day moving average is $32.35 and its 200-day moving average is $31.33.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. Sell-side analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEVA has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price target on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Piper Sandler reiterated an “overweight” rating and set a $42.00 price objective (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Truist Financial upped their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays increased their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and a consensus target price of $41.78.

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.