Straight Path Wealth Management Trims Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

Straight Path Wealth Management decreased its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 37.5% in the 4th quarter, Holdings Channel reports. The firm owned 50,000 shares of the company’s stock after selling 30,000 shares during the period. Teva Pharmaceutical Industries accounts for about 0.4% of Straight Path Wealth Management’s investment portfolio, making the stock its 27th biggest holding. Straight Path Wealth Management’s holdings in Teva Pharmaceutical Industries were worth $1,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in Teva Pharmaceutical Industries by 19.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock valued at $1,402,945,000 after buying an additional 7,255,083 shares during the period. Menora Mivtachim Holdings LTD. increased its stake in Teva Pharmaceutical Industries by 1.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 38,920,294 shares of the company’s stock valued at $786,190,000 after buying an additional 427,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Teva Pharmaceutical Industries by 14.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock valued at $1,167,323,000 after buying an additional 4,820,000 shares during the period. Norges Bank acquired a new position in Teva Pharmaceutical Industries in the 4th quarter valued at $1,098,060,000. Finally, Rubric Capital Management LP increased its stake in Teva Pharmaceutical Industries by 1.8% in the 2nd quarter. Rubric Capital Management LP now owns 26,000,000 shares of the company’s stock valued at $435,760,000 after buying an additional 450,000 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Analyst Ratings Changes

TEVA has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Monday, April 20th. Bank of America increased their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Truist Financial raised their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.78.

Insiders Place Their Bets

In related news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.61, for a total value of $5,457,268.11. Following the completion of the sale, the executive vice president owned 172,184 shares of the company’s stock, valued at $6,131,472.24. This represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Daniell sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the sale, the executive vice president directly owned 55,755 shares of the company’s stock, valued at $1,973,727. The trade was a 34.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 421,470 shares of company stock valued at $14,570,945. Corporate insiders own 0.54% of the company’s stock.

Teva Pharmaceutical Industries Stock Up 4.7%

TEVA stock opened at $34.38 on Friday. Teva Pharmaceutical Industries Ltd. has a 1-year low of $14.99 and a 1-year high of $37.35. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.35 and a beta of 0.84. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a fifty day moving average price of $32.72 and a two-hundred day moving average price of $31.61.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The company had revenue of $3.98 billion during the quarter. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.