Migdal Insurance & Financial Holdings Ltd. Acquires 2,350,000 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,685,422 shares of the company’s stock after purchasing an additional 2,350,000 shares during the period. Teva Pharmaceutical Industries comprises 5.7% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 3rd largest holding. Migdal Insurance & Financial Holdings Ltd. owned 2.50% of Teva Pharmaceutical Industries worth $480,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Teva Pharmaceutical Industries by 18.6% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 346,104 shares of the company’s stock worth $5,801,000 after purchasing an additional 54,300 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in Teva Pharmaceutical Industries by 7.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 13,692 shares of the company’s stock valued at $229,000 after buying an additional 973 shares during the period. Solstein Capital LLC bought a new position in Teva Pharmaceutical Industries in the 2nd quarter valued at about $949,000. Asset Management One Co. Ltd. increased its holdings in Teva Pharmaceutical Industries by 0.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 432,240 shares of the company’s stock valued at $7,244,000 after buying an additional 3,403 shares during the period. Finally, ARK Investment Management LLC increased its holdings in Teva Pharmaceutical Industries by 33.9% in the 2nd quarter. ARK Investment Management LLC now owns 120,874 shares of the company’s stock valued at $2,026,000 after buying an additional 30,621 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Trading Up 1.0%

TEVA opened at $19.81 on Wednesday. The company’s 50 day moving average is $19.16 and its 200-day moving average is $17.40. Teva Pharmaceutical Industries Ltd. has a 1-year low of $12.47 and a 1-year high of $22.80. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 2.45. The company has a market cap of $22.72 billion, a P/E ratio of -123.78, a PEG ratio of 1.08 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 0.95% and a positive return on equity of 46.10%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company posted $0.61 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts predict that Teva Pharmaceutical Industries Ltd. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Placid Jover sold 6,053 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $15.16, for a total value of $91,763.48. Following the sale, the insider directly owned 6,774 shares in the company, valued at approximately $102,693.84. This trade represents a 47.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric A. Hughes sold 52,742 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $15.16, for a total transaction of $799,568.72. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TEVA shares. JPMorgan Chase & Co. raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $25.57.

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.