Sound Shore Management Inc. CT Reduces Stock Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Sound Shore Management Inc. CT lessened its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 23.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,309,906 shares of the company’s stock after selling 1,337,543 shares during the quarter. Teva Pharmaceutical Industries makes up 4.3% of Sound Shore Management Inc. CT’s holdings, making the stock its 2nd largest holding. Sound Shore Management Inc. CT’s holdings in Teva Pharmaceutical Industries were worth $134,512,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TEVA. Allworth Financial LP raised its position in shares of Teva Pharmaceutical Industries by 53.8% in the 4th quarter. Allworth Financial LP now owns 941 shares of the company’s stock worth $29,000 after purchasing an additional 329 shares during the last quarter. Grove Bank & Trust raised its position in shares of Teva Pharmaceutical Industries by 300.0% in the 4th quarter. Grove Bank & Trust now owns 1,000 shares of the company’s stock worth $31,000 after purchasing an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Teva Pharmaceutical Industries by 51.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Teva Pharmaceutical Industries by 27.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $42,000 after purchasing an additional 292 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its position in shares of Teva Pharmaceutical Industries by 1,823.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 1,577 shares of the company’s stock worth $49,000 after purchasing an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Insider Activity

In other news, insider Mark Sabag sold 144,180 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the completion of the sale, the insider owned 80,760 shares of the company’s stock, valued at $2,825,792.40. This represents a 64.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eliyahu Sharon Kalif sold 153,251 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.61, for a total transaction of $5,457,268.11. Following the sale, the executive vice president directly owned 172,184 shares of the company’s stock, valued at $6,131,472.24. The trade was a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 421,470 shares of company stock worth $14,570,945. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEVA. JPMorgan Chase & Co. lifted their price target on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. UBS Group lifted their price target on Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target (up from $41.00) on shares of Teva Pharmaceutical Industries in a research report on Thursday, April 30th. Truist Financial lifted their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group lifted their price target on Teva Pharmaceutical Industries from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.78.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $32.72 on Thursday. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $14.99 and a fifty-two week high of $37.35. The business has a 50-day simple moving average of $32.62 and a two-hundred day simple moving average of $31.55. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.01. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.37 and a beta of 0.84.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share 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 during the quarter. On average, analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.36 earnings per share for the current year.

Teva Pharmaceutical Industries 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.