Sound Shore Management Inc. CT Sells 733,244 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Sound Shore Management Inc. CT lessened its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 9.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,761,446 shares of the company’s stock after selling 733,244 shares during the quarter. Teva Pharmaceutical Industries accounts for 3.7% of Sound Shore Management Inc. CT’s holdings, making the stock its biggest position. Sound Shore Management Inc. CT’s holdings in Teva Pharmaceutical Industries were worth $109,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in Teva Pharmaceutical Industries by 21.9% in the 4th quarter. Victory Capital Management Inc. now owns 38,386 shares of the company’s stock valued at $401,000 after buying an additional 6,886 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Teva Pharmaceutical Industries by 31.5% in the fourth quarter. Private Advisor Group LLC now owns 19,424 shares of the company’s stock valued at $204,000 after purchasing an additional 4,654 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Teva Pharmaceutical Industries by 14.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,138 shares of the company’s stock worth $168,000 after purchasing an additional 2,041 shares in the last quarter. Norges Bank acquired a new position in Teva Pharmaceutical Industries during the fourth quarter worth $14,376,000. Finally, Hsbc Holdings PLC grew its position in Teva Pharmaceutical Industries by 242.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,597,178 shares of the company’s stock valued at $16,667,000 after purchasing an additional 1,130,969 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $17.51 on Friday. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of -42.70, a PEG ratio of 1.26 and a beta of 0.88. 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 52 week low of $8.06 and a 52 week high of $19.08. The company has a 50-day simple moving average of $17.66 and a 200 day simple moving average of $16.07.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. On average, sell-side analysts predict that Teva Pharmaceutical Industries Limited will post 2.33 earnings per share for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the transaction, the insider now directly owns 45,060 shares in the company, valued at $777,285. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

Teva Pharmaceutical Industries Company 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.