KLP Kapitalforvaltning AS Takes $8.97 Million Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

KLP Kapitalforvaltning AS purchased a new position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 407,059 shares of the company's stock, valued at approximately $8,972,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teva Pharmaceutical Industries during the third quarter worth about $50,000. Ameliora Wealth Management Ltd. acquired a new position in Teva Pharmaceutical Industries during the fourth quarter worth approximately $66,000. IFP Advisors Inc lifted its stake 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 buying 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 in the fourth quarter valued at approximately $104,000. Finally, Assetmark Inc. grew its position in shares of Teva Pharmaceutical Industries by 1,370.3% during the fourth quarter. Assetmark Inc. now owns 5,205 shares of the company's stock worth $115,000 after acquiring an additional 4,851 shares during the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America reduced their price target on shares of 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. Piper Sandler upped their target price on shares of 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 raised Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Barclays reduced their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, UBS Group dropped their target price 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.43.

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Teva Pharmaceutical Industries Stock Performance

Shares of TEVA stock opened at $16.18 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. The stock has a 50 day simple moving average of $17.70 and a 200-day simple moving average of $18.19. The company has a market cap of $18.34 billion, a price-to-earnings ratio of -11.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82. 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 released its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share (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%. On average, equities analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

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.

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