Principal Financial Group Inc. Cuts Stock Holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Principal Financial Group Inc. lowered its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,416 shares of the company’s stock after selling 8,031 shares during the quarter. Principal Financial Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $1,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TEVA. Sequoia Financial Advisors LLC boosted its stake in Teva Pharmaceutical Industries by 0.7% during the second quarter. Sequoia Financial Advisors LLC now owns 111,575 shares of the company’s stock valued at $1,813,000 after buying an additional 826 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Teva Pharmaceutical Industries by 4.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 24,495 shares of the company’s stock valued at $346,000 after purchasing an additional 947 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Teva Pharmaceutical Industries by 9.6% in the first quarter. Oppenheimer & Co. Inc. now owns 13,522 shares of the company’s stock worth $191,000 after purchasing an additional 1,180 shares during the last quarter. QRG Capital Management Inc. raised its stake in Teva Pharmaceutical Industries by 0.8% during the second quarter. QRG Capital Management Inc. now owns 144,938 shares of the company’s stock valued at $2,355,000 after purchasing an additional 1,191 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Teva Pharmaceutical Industries by 105.7% during the second 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. Institutional investors own 54.05% of the company’s stock.

Insider Activity at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the transaction, the insider now owns 45,060 shares in the company, valued at $777,285. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 519,000 shares of the company’s stock in a transaction 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 $16,706,430. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the completion of the transaction, the insider now owns 45,060 shares in the company, valued at $777,285. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

Teva Pharmaceutical Industries Stock Up 0.3 %

NYSE:TEVA opened at $18.02 on Friday. The company has a market cap of $20.41 billion, a price-to-earnings ratio of -43.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. Teva Pharmaceutical Industries Limited has a twelve month low of $8.06 and a twelve month high of $19.08. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. The stock has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $15.86.

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

Wall Street Analyst Weigh In

TEVA has been the topic of a number of research reports. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, July 10th. Barclays upped their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group increased their price target on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America lifted their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.89.

About Teva Pharmaceutical Industries

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.