Driehaus Capital Management LLC Invests $23.12 Million in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Driehaus Capital Management LLC acquired a new position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,422,483 shares of the company’s stock, valued at approximately $23,115,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEVA. Maple Rock Capital Partners Inc. grew its stake in shares of Teva Pharmaceutical Industries by 68.3% during the first quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock worth $61,568,000 after acquiring an additional 1,770,000 shares during the last quarter. Glenview Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries during the 4th quarter worth approximately $16,752,000. Iron Triangle Partners LP increased its stake in Teva Pharmaceutical Industries by 113.1% during the 1st quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after purchasing an additional 1,469,864 shares in the last quarter. Norges Bank purchased a new position in shares of Teva Pharmaceutical Industries in the fourth quarter worth $14,376,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Teva Pharmaceutical Industries by 242.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,597,178 shares of the company’s stock worth $16,667,000 after buying an additional 1,130,969 shares during the period. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEVA has been the topic of several research reports. Barclays upped their target price 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. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. UBS Group lifted 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 increased their price target on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Argus raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

Teva Pharmaceutical Industries Stock Down 1.6 %

Shares of TEVA stock opened at $17.46 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. Teva Pharmaceutical Industries Limited has a twelve month low of $8.06 and a twelve month high of $19.08. The stock has a 50 day moving average of $17.76 and a 200 day moving average of $16.21. The stock has a market cap of $19.78 billion, a P/E ratio of -42.59, a P/E/G ratio of 1.23 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share 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 firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $3.99 billion. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Limited will post 2.33 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total transaction of $423,263.25. Following the sale, the insider now directly owns 45,060 shares of the company’s stock, valued at approximately $777,285. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

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.