King Wealth Management Group trimmed 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 filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.
A number of other large investors have also modified their holdings of TEVA. Smithfield Trust Co grew its holdings in shares of Teva Pharmaceutical Industries by 55.7% in the 3rd quarter. Smithfield Trust Co now owns 2,739 shares of the company's stock worth $50,000 after acquiring an additional 980 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Teva Pharmaceutical Industries during the 3rd quarter valued at $50,000. Ameliora Wealth Management Ltd. acquired a new stake in Teva Pharmaceutical Industries during the 4th quarter valued at $66,000. Venturi Wealth Management LLC acquired a new stake in Teva Pharmaceutical Industries during the 3rd quarter valued at $60,000. Finally, IFP Advisors Inc grew its holdings in Teva Pharmaceutical Industries by 96.1% during the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company's stock valued at $88,000 after buying an additional 1,960 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on TEVA shares. Bank of America lowered their target price on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Piper Sandler increased their target price on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, January 17th. StockNews.com cut Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a report on Friday, March 7th. UBS Group decreased their price objective on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Finally, Barclays decreased their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.43.
Get Our Latest Analysis on TEVA
Insider Buying and Selling at Teva Pharmaceutical Industries
In other news, Director Roberto Mignone sold 286,000 shares of Teva Pharmaceutical Industries stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.
Teva Pharmaceutical Industries Trading Down 0.5 %
Shares of TEVA traded down $0.09 during trading hours on Friday, hitting $16.38. The stock had a trading volume of 6,488,903 shares, compared to its average volume of 12,964,806. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The firm has a market cap of $18.57 billion, a P/E ratio of -11.29, a P/E/G ratio of 1.44 and a beta of 0.82. The company's fifty day simple moving average is $18.28 and its 200 day simple moving average is $18.30. Teva Pharmaceutical Industries Limited has a 12-month low of $12.51 and a 12-month high of $22.80.
Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.
Teva Pharmaceutical Industries Company Profile
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Free Report)
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.
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