Norges Bank bought a new position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,749,070 shares of the company's stock, valued at approximately $38,550,000. Norges Bank owned 0.15% of Teva Pharmaceutical Industries at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of TEVA. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Teva Pharmaceutical Industries by 12.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company's stock worth $859,935,000 after purchasing an additional 4,418,961 shares during the period. Todd Asset Management LLC acquired a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at about $58,243,000. State Street Corp raised its position in Teva Pharmaceutical Industries by 10.0% in the 3rd quarter. State Street Corp now owns 19,500,683 shares of the company's stock valued at $351,402,000 after purchasing an additional 1,778,268 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Teva Pharmaceutical Industries in the 4th quarter valued at about $38,914,000. Finally, AustralianSuper Pty Ltd raised its position in Teva Pharmaceutical Industries by 16.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 9,222,695 shares of the company's stock valued at $203,268,000 after purchasing an additional 1,329,319 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TEVA has been the topic of several research analyst reports. Barclays cut their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. UBS Group lowered their target price on 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. 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. StockNews.com upgraded Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Finally, Piper Sandler lifted their price target on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Teva Pharmaceutical Industries has an average rating of "Moderate Buy" and a consensus price target of $23.43.
View Our Latest Stock Report on Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Trading Down 6.2 %
TEVA stock traded down $0.88 during trading on Thursday, reaching $13.28. 3,281,429 shares of the stock traded hands, compared to its average volume of 9,846,890. The business's 50 day moving average price is $15.95 and its 200-day moving average price is $17.88. Teva Pharmaceutical Industries Limited has a 52-week low of $12.51 and a 52-week high of $22.80. 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 capitalization of $15.06 billion, a PE ratio of -9.16, a P/E/G ratio of 1.44 and a beta of 0.72.
Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 EPS 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%. As a group, sell-side analysts forecast that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current year.
About Teva Pharmaceutical Industries
(
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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