Gabelli Funds LLC Lowers Stock Position in Teva Pharmaceutical Industries Ltd. $TEVA

Gabelli Funds LLC cut its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,900 shares of the company’s stock after selling 23,700 shares during the quarter. Gabelli Funds LLC’s holdings in Teva Pharmaceutical Industries were worth $10,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEVA. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Teva Pharmaceutical Industries by 2.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company’s stock valued at $1,384,216,000 after acquiring an additional 1,004,941 shares during the period. WCM Investment Management LLC grew its holdings in shares of Teva Pharmaceutical Industries by 191.4% in the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock worth $1,157,264,000 after acquiring an additional 26,813,522 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Teva Pharmaceutical Industries by 18.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company’s stock worth $1,171,378,000 after acquiring an additional 5,917,423 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 purchasing an additional 4,820,000 shares in the last quarter. Finally, Norges Bank purchased a new position in Teva Pharmaceutical Industries in the 4th quarter valued at approximately $1,098,060,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Stock Performance

Teva Pharmaceutical Industries stock opened at $30.78 on Monday. 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 stock has a fifty day moving average of $33.29 and a two-hundred day moving average of $32.69. The company has a market capitalization of $35.40 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 3.25 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $14.99 and a fifty-two week high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. On average, analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on TEVA. Wall Street Zen lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays lifted their price target on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial boosted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.78.

Insider Buying and Selling

In other news, EVP Christine Fox sold 21,258 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $35.31, for a total transaction of $750,619.98. Following the completion of the sale, the executive vice president directly owned 63,647 shares in the company, valued at $2,247,375.57. The trade was a 25.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Sabag sold 144,180 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 80,760 shares of the company’s stock, valued at approximately $2,825,792.40. This represents a 64.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 465,931 shares of company stock worth $16,332,989 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

About Teva Pharmaceutical Industries

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.