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

King Wealth Management Group cut its position 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 SEC. The institutional investor owned 14,500 shares of the company's stock after selling 83,602 shares during the quarter. King Wealth Management Group's holdings in Teva Pharmaceutical Industries were worth $3,196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TEVA. Stifel Financial Corp boosted its position in Teva Pharmaceutical Industries by 54.0% during the third quarter. Stifel Financial Corp now owns 66,391 shares of the company's stock valued at $1,196,000 after purchasing an additional 23,283 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Teva Pharmaceutical Industries by 7.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company's stock valued at $10,983,000 after purchasing an additional 33,277 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Teva Pharmaceutical Industries by 21.8% during the third quarter. Thrivent Financial for Lutherans now owns 224,511 shares of the company's stock valued at $4,046,000 after purchasing an additional 40,218 shares during the last quarter. Sio Capital Management LLC acquired a new position in Teva Pharmaceutical Industries during the third quarter valued at approximately $24,314,000. Finally, Pinnbrook Capital Management LP acquired a new position in Teva Pharmaceutical Industries during the fourth quarter valued at approximately $4,966,000. 54.05% of the stock is currently owned by institutional investors.

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Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock traded down $0.09 during mid-day trading on Friday, reaching $16.38. 6,488,903 shares of the company were exchanged, compared to its average volume of 12,964,806. Teva Pharmaceutical Industries Limited has a 12 month low of $12.51 and a 12 month high of $22.80. The company has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $18.29. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75. The firm has a market cap of $18.57 billion, a PE ratio of -11.29, a PEG ratio of 1.44 and a beta of 0.82.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported $0.70 EPS 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%. As a group, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TEVA shares. Barclays reduced their price target on 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. UBS Group cut their price objective on 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 raised their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company 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 on the stock in a research note on Thursday, March 6th. Finally, StockNews.com lowered Teva Pharmaceutical Industries from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.43.

Insider Transactions at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $22.01, for a total value 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 $15,296,950. The trade was a 29.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company's stock.

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.