Truist Financial Corp Acquires 254,483 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Truist Financial Corp raised its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 7.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,885,251 shares of the company’s stock after purchasing an additional 254,483 shares during the quarter. Truist Financial Corp’s holdings in Teva Pharmaceutical Industries were worth $63,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $14,376,000. TD Asset Management Inc raised its position in shares of Teva Pharmaceutical Industries by 1.4% during the fourth quarter. TD Asset Management Inc now owns 227,488 shares of the company’s stock worth $2,375,000 after acquiring an additional 3,053 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $133,000. Blueshift Asset Management LLC bought a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $240,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Teva Pharmaceutical Industries by 1,382.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 255,826 shares of the company’s stock worth $2,671,000 after acquiring an additional 238,573 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Insider Buying and Selling

In related news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the completion of 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 SEC, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Stock Down 1.9 %

Shares of Teva Pharmaceutical Industries stock opened at $17.67 on Wednesday. Teva Pharmaceutical Industries Limited has a 1 year low of $8.06 and a 1 year high of $19.08. The business has a 50-day moving average of $17.78 and a two-hundred day moving average of $16.28. The company has a market capitalization of $20.02 billion, a P/E ratio of -43.15, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. UBS Group lifted their price objective 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. Barclays lifted their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

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.