King Wealth Management Group Sells 83,602 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

King Wealth Management Group reduced its holdings in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 85.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,500 shares of the company's stock after selling 83,602 shares during the period. King Wealth Management Group's holdings in Teva Pharmaceutical Industries were worth $3,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TEVA. Diversify Advisory Services LLC raised its position in shares of Teva Pharmaceutical Industries by 2.5% during the 4th quarter. Diversify Advisory Services LLC now owns 20,355 shares of the company's stock valued at $426,000 after purchasing an additional 496 shares during the period. Sanctuary Advisors LLC lifted its holdings in Teva Pharmaceutical Industries by 1.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 35,129 shares of the company's stock worth $601,000 after purchasing an additional 664 shares in the last quarter. Metis Global Partners LLC boosted its stake in Teva Pharmaceutical Industries by 6.7% in the 4th quarter. Metis Global Partners LLC now owns 13,697 shares of the company's stock worth $302,000 after purchasing an additional 860 shares during the period. DGS Capital Management LLC grew its holdings in Teva Pharmaceutical Industries by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 13,627 shares of the company's stock valued at $246,000 after buying an additional 872 shares in the last quarter. Finally, Williamson Legacy Group LLC raised its position in shares of Teva Pharmaceutical Industries by 1.7% during the fourth quarter. Williamson Legacy Group LLC now owns 57,824 shares of the company's stock valued at $1,274,000 after buying an additional 979 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Roberto Mignone sold 286,000 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the completion of the sale, the director now directly owns 695,000 shares of the company's stock, valued at approximately $15,296,950. The trade was a 29.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on TEVA. Piper Sandler boosted their target price on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Bank of America lowered their target price on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Barclays cut their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. UBS Group decreased their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.43.

Remove Ads

Teva Pharmaceutical Industries Stock Up 0.1 %

Shares of TEVA opened at $16.50 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries Limited has a 52-week low of $12.51 and a 52-week high of $22.80. The company has a market cap of $18.70 billion, a PE ratio of -11.38, a P/E/G ratio of 1.44 and a beta of 0.82. The business has a fifty day moving average of $18.38 and a 200 day moving average of $18.31.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. On average, sell-side analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

Teva Pharmaceutical Industries Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.