Bank of New York Mellon Corp cut its holdings in shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 85.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,101,654 shares of the company’s stock after selling 12,818,671 shares during the quarter. Bank of New York Mellon Corp’s holdings in Teva Pharmaceutical Industries were worth $39,827,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Calton & Associates Inc. acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $108,000. Fieldpoint Private Securities LLC acquired a new position in Teva Pharmaceutical Industries during the 3rd quarter worth about $171,000. Global Financial Private Capital LLC acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $193,000. Sigma Planning Corp acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $214,000. Finally, Comprehensive Portfolio Management LLC acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $226,000. Institutional investors and hedge funds own 58.22% of the company’s stock.
Several equities analysts recently issued reports on TEVA shares. Goldman Sachs Group increased their target price on Teva Pharmaceutical Industries from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Morgan Stanley raised Teva Pharmaceutical Industries from an “underweight” rating to an “equal weight” rating and set a $18.00 target price on the stock in a research note on Friday, December 15th. Royal Bank of Canada set a $11.00 target price on Teva Pharmaceutical Industries and gave the stock a “sell” rating in a research note on Wednesday, November 29th. Cantor Fitzgerald set a $10.00 target price on Teva Pharmaceutical Industries and gave the stock a “hold” rating in a research note on Thursday, December 14th. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and issued a $24.00 price target (up previously from $22.00) on shares of Teva Pharmaceutical Industries in a research report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. Teva Pharmaceutical Industries currently has an average rating of “Hold” and an average target price of $20.81.
Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Thursday, February 8th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.14. Teva Pharmaceutical Industries had a positive return on equity of 16.43% and a negative net margin of 72.66%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the company earned $1.38 EPS. The business’s quarterly revenue was down 15.9% on a year-over-year basis. research analysts forecast that Teva Pharmaceutical Industries Ltd will post 2.31 earnings per share for the current fiscal year.
In related news, EVP Mark Sabag sold 5,050 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $19.68, for a total transaction of $99,384.00. Following the transaction, the executive vice president now owns 44,517 shares in the company, valued at approximately $876,094.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,636 shares of company stock worth $149,390 in the last three months. Corporate insiders own 7.10% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Teva Pharmaceutical Industries Ltd (TEVA) Shares Sold by Bank of New York Mellon Corp” was first posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/3258792/teva-pharmaceutical-industries-ltd-teva-shares-sold-by-bank-of-new-york-mellon-corp.html.
Teva Pharmaceutical Industries Profile
Teva Pharmaceutical Industries Limited is a pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. The Company develops, manufactures and sells generic medicines in a range of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams.
Want to see what other hedge funds are holding TEVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teva Pharmaceutical Industries Ltd (NYSE:TEVA).
Receive News & Ratings for Teva Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teva Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.