Renaissance Group LLC Lowers Stake in Teva Pharmaceutical Industries Ltd. $TEVA

Renaissance Group LLC cut its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 291,915 shares of the company’s stock after selling 22,655 shares during the quarter. Renaissance Group LLC’s holdings in Teva Pharmaceutical Industries were worth $9,111,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEVA. Norges Bank purchased a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth about $1,098,060,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Teva Pharmaceutical Industries by 19.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock valued at $1,402,945,000 after buying an additional 7,255,083 shares during the period. Wellington Management Group LLP lifted its position in Teva Pharmaceutical Industries by 39,228.4% during the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock valued at $139,296,000 after buying an additional 6,878,304 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Teva Pharmaceutical Industries during the third quarter valued at approximately $100,939,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Teva Pharmaceutical Industries by 14.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock worth $1,167,323,000 after buying an additional 4,820,000 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TEVA. Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Bank of America increased their price target on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Truist Financial raised their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Piper Sandler restated 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. Finally, UBS Group upped their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.78.

Insiders Place Their Bets

In related news, CAO Amir Weiss sold 10,679 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total value of $384,444.00. Following the sale, the chief accounting officer directly owned 20,016 shares of the company’s stock, valued at $720,576. This represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Daniell sold 30,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares in the company, valued at $1,973,727. This trade represents a 34.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 421,470 shares of company stock valued at $14,570,945. 0.54% of the stock is owned by insiders.

Teva Pharmaceutical Industries Trading Down 2.6%

Shares of TEVA opened at $33.54 on Thursday. Teva Pharmaceutical Industries Ltd. has a one year low of $14.99 and a one year high of $37.35. The stock has a 50-day moving average price of $33.10 and a 200 day moving average price of $31.87. 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 company has a market capitalization of $38.57 billion, a P/E ratio of 25.22, a P/E/G ratio of 3.51 and a beta of 0.84.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data 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 forecast that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current fiscal year.

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.