Rubric Capital Management LP Decreases Position in Teva Pharmaceutical Industries Ltd. $TEVA

Rubric Capital Management LP reduced its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 28.6% during the first quarter, Holdings Channel reports. The institutional investor owned 15,250,000 shares of the company’s stock after selling 6,105,510 shares during the period. Teva Pharmaceutical Industries comprises 4.9% of Rubric Capital Management LP’s holdings, making the stock its 4th biggest position. Rubric Capital Management LP’s holdings in Teva Pharmaceutical Industries were worth $459,330,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in Teva Pharmaceutical Industries in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in Teva Pharmaceutical Industries by 547.1% during the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. Allworth Financial LP boosted its position in shares of Teva Pharmaceutical Industries by 53.8% in the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock worth $29,000 after purchasing an additional 329 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Teva Pharmaceutical Industries by 27.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $42,000 after purchasing an additional 292 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Truist Financial upped their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wall Street Zen lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays raised their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research report on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.78.

Teva Pharmaceutical Industries Trading Up 0.9%

Shares of TEVA opened at $31.08 on Tuesday. The firm has a market cap of $35.74 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 3.25 and a beta of 0.86. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The company has a 50 day simple moving average of $33.23 and a two-hundred day simple moving average of $32.68.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The firm had revenue of $3.98 billion for the quarter. On average, equities analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, EVP Eliyahu Sharon Kalif sold 106,563 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the transaction, the executive vice president owned 65,621 shares of the company’s stock, valued at $2,237,676.10. This represents a 61.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine Fox sold 21,258 shares of the firm’s 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 transaction, the executive vice president owned 63,647 shares of the company’s stock, valued at approximately $2,247,375.57. The trade was a 25.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 465,931 shares of company stock worth $16,332,989. 0.54% of the stock is owned by corporate 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.