106,842 Teva Pharmaceutical Industries Ltd. $TEVA Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 20.8% in the third quarter, Holdings Channel reports. The institutional investor owned 406,477 shares of the company’s stock after selling 106,842 shares during the period. Private Management Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $16,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fulcrum Asset Management LLP bought a new position in shares of Teva Pharmaceutical Industries in the 3rd quarter worth $803,000. M Holdings Securities Inc. bought a new stake in Teva Pharmaceutical Industries during the third quarter valued at about $637,000. Brighton Jones LLC bought a new stake in Teva Pharmaceutical Industries during the third quarter valued at about $227,000. Ethic Inc. grew its stake in Teva Pharmaceutical Industries by 63.7% in the third quarter. Ethic Inc. now owns 33,024 shares of the company’s stock valued at $1,308,000 after purchasing an additional 12,853 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Teva Pharmaceutical Industries by 8.7% in the third quarter. Parallel Advisors LLC now owns 4,626 shares of the company’s stock valued at $183,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TEVA shares. TD Cowen boosted their target price on shares of Teva Pharmaceutical Industries from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. raised their price target on shares of Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, October 12th. UBS Group lifted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. HC Wainwright began coverage on shares of Teva Pharmaceutical Industries in a research note on Monday, November 2nd. They set a “buy” rating and a $52.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.23.

Insider Activity at Teva Pharmaceutical Industries

In related news, insider Mark Sabag sold 46,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $41.93, for a total value of $1,928,780.00. Following the completion of the sale, the insider directly owned 80,760 shares in the company, valued at $3,386,266.80. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Savage sold 7,342 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $38.85, for a total transaction of $285,236.70. Following the sale, the insider directly owned 8,500 shares in the company, valued at approximately $330,225. This represents a 46.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 420,942 shares of company stock valued at $16,572,473 in the last three months. 0.54% of the stock is owned by insiders.

Teva Pharmaceutical Industries Stock Up 0.8%

Teva Pharmaceutical Industries stock opened at $42.97 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market capitalization of $50.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.92 and a beta of 0.97. Teva Pharmaceutical Industries Ltd. has a 1-year low of $23.98 and a 1-year high of $43.34. The business has a fifty day moving average price of $39.62 and a 200-day moving average price of $34.85.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Tuesday, November 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. Teva Pharmaceutical Industries had a return on equity of 33.20% and a net margin of 2.94%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 1.98 EPS for the current fiscal year.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries is a global pharmaceutical company that develops, manufactures and markets generic medicines, specialty medicines and biosimilars. Its portfolio spans treatments for conditions including neurological disorders, respiratory diseases and cancer, alongside a broad range of generic medicines across therapeutic areas.

Founded in Jerusalem in 1901, Teva has grown from a regional pharmaceutical business into an international company. It serves patients and healthcare providers in markets around the world, including North America, Europe and other regions.

Teva is headquartered in Tel Aviv, Israel.