Lord Abbett & CO. LLC Increases Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Lord Abbett & CO. LLC lifted its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA - Free Report) by 66.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,404,895 shares of the company's stock after acquiring an additional 960,648 shares during the quarter. Lord Abbett & CO. LLC owned 0.21% of Teva Pharmaceutical Industries worth $53,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Oarsman Capital Inc. purchased a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teva Pharmaceutical Industries in the third quarter worth $50,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter worth $66,000. IFP Advisors Inc raised its stake in shares of 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 acquiring an additional 1,960 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Teva Pharmaceutical Industries by 27.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company's stock valued at $96,000 after purchasing an additional 949 shares during the period. Hedge funds and other institutional investors own 54.05% of the company's stock.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA traded up $0.56 during mid-day trading on Tuesday, reaching $15.58. 14,075,381 shares of the company's stock were exchanged, compared to its average volume of 9,951,763. The business's fifty day simple moving average is $15.19 and its 200-day simple moving average is $17.55. Teva Pharmaceutical Industries Limited has a 52-week low of $12.47 and a 52-week high of $22.80. The stock has a market capitalization of $17.67 billion, a PE ratio of -10.74, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75.

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, beating 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, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

TEVA has been the topic of a number of analyst reports. Piper Sandler increased their price target 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. UBS Group decreased their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Barclays lowered 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 research note on Thursday, January 30th. Finally, Bank of America decreased their price target on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Teva Pharmaceutical Industries presently has an average rating of "Moderate Buy" and an average price target of $23.43.

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.