Migdal Insurance & Financial Holdings Ltd. Acquires 1,860,000 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,919,540 shares of the company’s stock after acquiring an additional 1,860,000 shares during the quarter. Teva Pharmaceutical Industries makes up approximately 6.1% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 2nd biggest position. Migdal Insurance & Financial Holdings Ltd. owned 2.58% of Teva Pharmaceutical Industries worth $301,920,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TEVA. Money Concepts Capital Corp bought a new position in Teva Pharmaceutical Industries during the 4th quarter worth $25,000. Tower Research Capital LLC TRC raised its position in shares of Teva Pharmaceutical Industries by 1,729.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,787 shares of the company’s stock worth $39,000 after acquiring an additional 3,580 shares in the last quarter. Blue Trust Inc. increased its position in Teva Pharmaceutical Industries by 92.3% in the 4th quarter. Blue Trust Inc. now owns 4,541 shares of the company’s stock valued at $46,000 after buying an additional 2,180 shares in the last quarter. Signaturefd LLC increased its position in Teva Pharmaceutical Industries by 90.8% in the 3rd quarter. Signaturefd LLC now owns 5,032 shares of the company’s stock valued at $51,000 after buying an additional 2,394 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Teva Pharmaceutical Industries in the 2nd quarter valued at about $57,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

TEVA stock traded up $0.03 on Wednesday, hitting $13.12. The company had a trading volume of 3,801,477 shares, compared to its average volume of 10,667,263. The stock’s 50-day simple moving average is $13.45 and its 200 day simple moving average is $11.21. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of -27.85, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 0.69 and a debt-to-equity ratio of 2.23. Teva Pharmaceutical Industries Limited has a 12-month low of $7.09 and a 12-month high of $14.47.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.73 by $0.25. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.97 billion. Teva Pharmaceutical Industries had a negative net margin of 3.33% and a positive return on equity of 34.90%. As a group, equities research analysts expect that Teva Pharmaceutical Industries Limited will post 2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEVA has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price target on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Barclays boosted their target price on Teva Pharmaceutical Industries from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 1st. Piper Sandler raised shares of Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $12.00 to $19.00 in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from an “underweight” rating to a “neutral” rating and set a $14.00 price target on the stock in a report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and an average price target of $13.78.

Insider Activity

In other news, CAO Amir Weiss sold 31,766 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $12.37, for a total value of $392,945.42. Following the sale, the chief accounting officer now owns 10,676 shares in the company, valued at $132,062.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Eric Drape sold 173,261 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $13.05, for a total value of $2,261,056.05. Following the sale, the vice president now directly owns 1 shares of the company’s stock, valued at approximately $13.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amir Weiss sold 31,766 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $12.37, for a total transaction of $392,945.42. Following the completion of the sale, the chief accounting officer now directly owns 10,676 shares in the company, valued at $132,062.12. The disclosure for this sale can be found here. Insiders have sold a total of 390,738 shares of company stock worth $5,132,766 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Company 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.