Resona Asset Management Co. Ltd. Reduces Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Resona Asset Management Co. Ltd. trimmed its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,444 shares of the company’s stock after selling 21,374 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Teva Pharmaceutical Industries were worth $10,268,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock worth $1,402,945,000 after purchasing an additional 7,255,083 shares in the last quarter. Phoenix Financial Ltd. grew its holdings in Teva Pharmaceutical Industries by 9.4% in the 3rd quarter. Phoenix Financial Ltd. now owns 41,295,244 shares of the company’s stock valued at $834,164,000 after buying an additional 3,533,800 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in Teva Pharmaceutical Industries by 1.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock valued at $786,190,000 after buying an additional 427,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Teva Pharmaceutical Industries by 14.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock valued at $1,167,323,000 after buying an additional 4,820,000 shares in the last quarter. Finally, Rubric Capital Management LP grew its holdings in Teva Pharmaceutical Industries by 1.8% in the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company’s stock valued at $435,760,000 after buying an additional 450,000 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Richard D. Francis sold 442,935 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $32.36, for a total value of $14,333,376.60. Following the transaction, the chief executive officer owned 642,099 shares of the company’s stock, valued at $20,778,323.64. This represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Daniell sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total value of $1,062,000.00. Following the completion of the transaction, the executive vice president directly owned 55,755 shares in the company, valued at approximately $1,973,727. This trade represents a 34.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,280,269 shares of company stock worth $42,755,980. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TEVA shares. Truist Financial upped their target price on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group upped their target price on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Bank of America upped their target price on Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Wall Street Zen cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. upped their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.78.

Teva Pharmaceutical Industries Stock Performance

Shares of Teva Pharmaceutical Industries stock opened at $34.32 on Thursday. Teva Pharmaceutical Industries Ltd. has a 52 week low of $14.99 and a 52 week high of $37.35. The business’s fifty day simple moving average is $31.70 and its 200-day simple moving average is $30.80. The firm has a market cap of $39.46 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 3.29 and a beta of 0.86. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The business had revenue of $3.98 billion for the quarter. Equities analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.49 earnings per share for the current year.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.