Skandinaviska Enskilda Banken AB publ Acquires 290,827 Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 20.3% during the first quarter, Holdings Channel reports. The fund owned 1,723,201 shares of the company’s stock after purchasing an additional 290,827 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Teva Pharmaceutical Industries were worth $26,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TEVA. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Teva Pharmaceutical Industries by 197,885.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,055,547 shares of the company’s stock worth $338,989,000 after purchasing an additional 22,044,407 shares during the period. FMR LLC increased its position in Teva Pharmaceutical Industries by 30.7% during the 4th quarter. FMR LLC now owns 81,983,231 shares of the company’s stock worth $1,806,910,000 after buying an additional 19,242,468 shares during the period. Duquesne Family Office LLC increased its position in Teva Pharmaceutical Industries by 530.1% during the 4th quarter. Duquesne Family Office LLC now owns 8,997,400 shares of the company’s stock worth $198,303,000 after buying an additional 7,569,450 shares during the period. Allspring Global Investments Holdings LLC increased its position in Teva Pharmaceutical Industries by 472.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,283,688 shares of the company’s stock worth $96,078,000 after buying an additional 5,186,592 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Teva Pharmaceutical Industries by 416.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,983,928 shares of the company’s stock worth $91,973,000 after buying an additional 4,824,247 shares during the period. Institutional investors own 54.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $23.00 in a research report on Monday, May 12th. The Goldman Sachs Group assumed coverage on Teva Pharmaceutical Industries in a research report on Friday, June 6th. They set a “buy” rating and a $24.00 price objective on the stock. UBS Group lowered their price objective on Teva Pharmaceutical Industries from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Wall Street Zen raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Bank of America increased their target price on Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $24.71.

Teva Pharmaceutical Industries Trading Up 1.2%

Shares of TEVA opened at $16.53 on Friday. The business’s fifty day moving average is $16.93 and its 200-day moving average is $16.80. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of -14.38, a PEG ratio of 0.96 and a beta of 0.60. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 1.03. Teva Pharmaceutical Industries Ltd. has a 52-week low of $12.47 and a 52-week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. Teva Pharmaceutical Industries’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Matthew Shields sold 6,206 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total value of $105,626.12. Following the sale, the executive vice president directly owned 9,989 shares of the company’s stock, valued at $170,012.78. This trade represents a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.49% of the stock is owned by company insiders.

About Teva Pharmaceutical Industries

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.