Royal Bank of Canada Raises Position in Teva Pharmaceutical Industries Ltd. $TEVA

Royal Bank of Canada boosted its position in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 11.2% during the first quarter, Holdings Channel.com reports. The fund owned 963,824 shares of the company’s stock after acquiring an additional 96,938 shares during the quarter. Royal Bank of Canada’s holdings in Teva Pharmaceutical Industries were worth $29,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TEVA. Norges Bank bought a new position in shares of Teva Pharmaceutical Industries during the fourth quarter worth $1,098,060,000. WCM Investment Management LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 191.4% in the 1st quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock worth $1,157,264,000 after acquiring an additional 26,813,522 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Teva Pharmaceutical Industries by 19.2% during the fourth 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 last quarter. Wellington Management Group LLP increased its stake in Teva Pharmaceutical Industries by 39,228.4% in the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock worth $139,296,000 after purchasing an additional 6,878,304 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in Teva Pharmaceutical Industries by 18.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 37,404,106 shares of the company’s stock worth $1,171,378,000 after buying an additional 5,917,423 shares during the period. Institutional investors own 54.05% of the company’s stock.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Eliyahu Sharon Kalif sold 153,251 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 172,184 shares of the company’s stock, valued at approximately $6,131,472.24. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TEVA shares. Bank of America increased their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Weiss Ratings upgraded Teva Pharmaceutical Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday. Truist Financial increased their price target on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays raised their price objective 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. Finally, UBS Group raised their price target on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Teva Pharmaceutical Industries Stock Down 0.1%

Shares of NYSE TEVA opened at $34.42 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.56. The firm has a market cap of $39.58 billion, a price-to-earnings ratio of 57.37, a PEG ratio of 3.64 and a beta of 0.86. Teva Pharmaceutical Industries Ltd. has a 52-week low of $15.55 and a 52-week high of $37.35. The business’s 50 day moving average is $33.24 and its two-hundred day moving average is $32.76.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its earnings results on Tuesday, June 30th. The company reported $0.02 EPS for the quarter. The company had revenue of $4.14 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 32.64% and a net margin of 4.08%. Research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.98 EPS for the current year.

Teva Pharmaceutical Industries Company Profile

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.