Teva Pharmaceutical Industries Limited (NYSE:TEVA) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 69.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,270 shares of the company’s stock after selling 290,134 shares during the quarter. Panagora Asset Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Teva Pharmaceutical Industries during the 1st quarter valued at about $28,000. EntryPoint Capital LLC purchased a new stake in Teva Pharmaceutical Industries in the first quarter valued at approximately $30,000. Beach Investment Counsel Inc. PA acquired a new position in Teva Pharmaceutical Industries during the second quarter worth approximately $48,000. Byrne Asset Management LLC purchased a new position in Teva Pharmaceutical Industries during the second quarter worth approximately $52,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Teva Pharmaceutical Industries by 105.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,388 shares of the company’s stock valued at $55,000 after purchasing an additional 1,741 shares during the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total value of $8,838,570.00. Following the transaction, the director now owns 981,000 shares in the company, valued at approximately $16,706,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 519,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the sale, the director now owns 981,000 shares in the company, valued at approximately $16,706,430. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares in the company, valued at $777,285. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE:TEVA opened at $18.87 on Friday. The business’s 50-day simple moving average is $17.19 and its 200 day simple moving average is $15.55. The company has a market cap of $21.38 billion, a P/E ratio of -46.02, a PEG ratio of 1.28 and a beta of 0.90. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries Limited has a one year low of $8.06 and a one year high of $18.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. On average, sell-side analysts forecast that Teva Pharmaceutical Industries Limited will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TEVA shares. Piper Sandler restated an “overweight” rating and set a $20.00 price objective (up from $19.00) on shares of Teva Pharmaceutical Industries in a report on Monday, May 13th. Barclays raised their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their target price on Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. Finally, StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and an average price target of $18.67.

Teva Pharmaceutical Industries 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.