Franklin Resources Inc. Reduces Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Franklin Resources Inc. reduced its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 69.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,826 shares of the company's stock after selling 108,265 shares during the period. Franklin Resources Inc.'s holdings in Teva Pharmaceutical Industries were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEVA. Wilmington Savings Fund Society FSB bought a new position in shares of Teva Pharmaceutical Industries in the third quarter worth about $50,000. Ameliora Wealth Management Ltd. acquired a new stake in Teva Pharmaceutical Industries in the fourth quarter valued at $66,000. IFP Advisors Inc boosted its holdings in Teva Pharmaceutical Industries by 96.1% in the fourth quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock valued at $88,000 after acquiring an additional 1,960 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $104,000. Finally, Assetmark Inc. lifted its holdings in Teva Pharmaceutical Industries by 1,370.3% in the fourth quarter. Assetmark Inc. now owns 5,205 shares of the company's stock valued at $115,000 after buying an additional 4,851 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA traded up $0.18 during trading on Friday, reaching $13.61. The company had a trading volume of 8,836,138 shares, compared to its average volume of 9,899,841. The stock has a market capitalization of $15.43 billion, a P/E ratio of -9.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries Limited has a 12 month low of $12.47 and a 12 month high of $22.80. The company has a fifty day moving average of $15.51 and a two-hundred day moving average of $17.70.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. Equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. UBS Group decreased their target price on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Piper Sandler boosted their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. StockNews.com lowered shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Barclays reduced their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.43.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.