Cornerstone Investment Partners LLC reduced its stake in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 16.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,300 shares of the company’s stock after selling 3,000 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Teva Pharmaceutical Industries were worth $330,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. PointState Capital LP bought a new stake in Teva Pharmaceutical Industries during the 2nd quarter worth about $161,826,000. Point72 Asset Management L.P. bought a new stake in Teva Pharmaceutical Industries during the 2nd quarter worth about $90,746,000. Renaissance Technologies LLC lifted its position in Teva Pharmaceutical Industries by 348.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,036,863 shares of the company’s stock worth $98,177,000 after buying an additional 3,135,900 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Teva Pharmaceutical Industries by 116.1% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,354,508 shares of the company’s stock worth $57,262,000 after buying an additional 1,264,900 shares in the last quarter. Finally, Cacti Asset Management LLC bought a new stake in Teva Pharmaceutical Industries during the 3rd quarter worth about $10,911,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Deborah A. Griffin sold 2,376 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $23.71, for a total value of $56,334.96. Following the transaction, the insider now owns 2,376 shares in the company, valued at approximately $56,334.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sven Dethlefs purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average price of $21.92 per share, for a total transaction of $43,840.00. Following the purchase, the executive vice president now owns 6,445 shares in the company, valued at approximately $141,274.40. The disclosure for this purchase can be found here. In the last quarter, insiders sold 10,350 shares of company stock worth $239,430. 0.43% of the stock is owned by company insiders.
Several equities research analysts have commented on TEVA shares. Zacks Investment Research raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, July 9th. Citigroup boosted their price target on shares of Teva Pharmaceutical Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, June 27th. Goldman Sachs Group boosted their price target on shares of Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Mizuho reaffirmed a “buy” rating and issued a $27.00 target price on shares of Teva Pharmaceutical Industries in a report on Thursday, August 2nd. Finally, ValuEngine raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Teva Pharmaceutical Industries has a consensus rating of “Hold” and a consensus price target of $21.68.
TEVA traded up $0.21 on Friday, reaching $21.48. The company had a trading volume of 535,315 shares, compared to its average volume of 12,052,496. Teva Pharmaceutical Industries Ltd has a fifty-two week low of $10.85 and a fifty-two week high of $25.96. The firm has a market cap of $21.55 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 1.75 and a beta of 0.71. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.69 and a current ratio of 1.03.
Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.14. Teva Pharmaceutical Industries had a negative net margin of 47.98% and a positive return on equity of 19.92%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the business earned $1.02 EPS. Teva Pharmaceutical Industries’s quarterly revenue was down 17.8% on a year-over-year basis. As a group, equities analysts forecast that Teva Pharmaceutical Industries Ltd will post 2.69 earnings per share for the current year.
Teva Pharmaceutical Industries Profile
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.
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