Franklin Resources Inc. Increases Stock Holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Franklin Resources Inc. boosted its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 141.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,091 shares of the company’s stock after purchasing an additional 90,920 shares during the period. Franklin Resources Inc.’s holdings in Teva Pharmaceutical Industries were worth $2,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC raised its position in shares of Teva Pharmaceutical Industries by 49.5% during the 3rd quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after buying an additional 20,762,226 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Teva Pharmaceutical Industries by 6.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 34,543,812 shares of the company’s stock worth $621,337,000 after acquiring an additional 2,204,623 shares during the last quarter. State Street Corp raised its position in Teva Pharmaceutical Industries by 10.0% in the third quarter. State Street Corp now owns 19,500,683 shares of the company’s stock valued at $351,402,000 after purchasing an additional 1,778,268 shares during the period. Geode Capital Management LLC lifted its stake in shares of Teva Pharmaceutical Industries by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 8,792,011 shares of the company’s stock valued at $157,571,000 after purchasing an additional 291,124 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Teva Pharmaceutical Industries by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 8,728,563 shares of the company’s stock worth $141,839,000 after purchasing an additional 1,031,400 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Christine Fox sold 19,388 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total value of $327,075.56. Following the sale, the executive vice president now owns 44,104 shares of the company’s stock, valued at $744,034.48. This trade represents a 30.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Teva Pharmaceutical Industries Stock Performance

NYSE:TEVA opened at $22.42 on Thursday. Teva Pharmaceutical Industries Limited has a 52 week low of $10.34 and a 52 week high of $22.50. The company has a fifty day simple moving average of $17.97 and a two-hundred day simple moving average of $17.60. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.57. The company has a market cap of $25.40 billion, a price-to-earnings ratio of -26.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEVA shares. Barclays boosted their price objective on shares of Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. StockNews.com lowered shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, UBS Group upped their price target on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.88.

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.