iA Global Asset Management Inc. Grows Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

iA Global Asset Management Inc. raised its position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 311.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,075 shares of the company’s stock after purchasing an additional 317,335 shares during the quarter. iA Global Asset Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $6,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Teva Pharmaceutical Industries during the first quarter worth $28,000. EntryPoint Capital LLC purchased a new position in Teva Pharmaceutical Industries during the first quarter worth about $30,000. Beach Investment Counsel Inc. PA purchased a new position in Teva Pharmaceutical Industries during the second quarter worth about $48,000. Byrne Asset Management LLC acquired a new stake in shares of Teva Pharmaceutical Industries in the second quarter valued at approximately $52,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of Teva Pharmaceutical Industries in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price target (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a report on Monday, May 13th. UBS Group lifted their price target on shares of Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. Bank of America boosted their price objective on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group raised their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the completion of the transaction, the insider now owns 45,060 shares of the company’s stock, valued at $777,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total transaction of $423,263.25. Following the completion of the transaction, the insider now directly owns 45,060 shares of the company’s stock, valued at approximately $777,285. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roberto Mignone sold 519,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total value of $8,838,570.00. Following the sale, the director now owns 981,000 shares in the company, valued at $16,706,430. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Teva Pharmaceutical Industries Trading Up 0.7 %

Shares of NYSE TEVA opened at $18.87 on Friday. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of -46.02, a PEG ratio of 1.28 and a beta of 0.90. The business has a 50 day simple moving average of $17.19 and a 200 day simple moving average of $15.55. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries Limited has a 52 week low of $8.06 and a 52 week high of $18.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. On average, research analysts predict that Teva Pharmaceutical Industries Limited will post 2.35 earnings per share for the current fiscal year.

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.