Allspring Global Investments Holdings LLC Has $23.37 Million Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Allspring Global Investments Holdings LLC grew its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 2,018.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,096 shares of the company’s stock after acquiring an additional 1,045,305 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Teva Pharmaceutical Industries were worth $23,368,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Smithfield Trust Co raised its holdings in Teva Pharmaceutical Industries by 55.7% in the third quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock worth $50,000 after purchasing an additional 980 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Teva Pharmaceutical Industries during the 3rd quarter worth $50,000. Claro Advisors LLC bought a new position in Teva Pharmaceutical Industries during the third quarter worth about $52,000. Venturi Wealth Management LLC acquired a new position in Teva Pharmaceutical Industries in the third quarter valued at about $60,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Teva Pharmaceutical Industries in the fourth quarter valued at about $66,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $22.01, for a total value of $6,294,860.00. Following the sale, the director now directly owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This represents a 29.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christine Fox sold 19,388 shares of Teva Pharmaceutical Industries stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.87, for a total value of $327,075.56. Following the transaction, the executive vice president now owns 44,104 shares of the company’s stock, valued at $744,034.48. The trade was a 30.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

TEVA has been the topic of several recent analyst reports. UBS Group cut their price objective on Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Barclays cut their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Piper Sandler increased their target price on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.57.

Teva Pharmaceutical Industries Stock Down 2.4 %

Shares of TEVA stock opened at $16.24 on Friday. The firm’s fifty day moving average price is $19.96 and its two-hundred day moving average price is $18.50. The company has a current ratio of 0.98, a quick ratio of 0.61 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries Limited has a 1 year low of $12.51 and a 1 year high of $22.80. The firm has a market capitalization of $18.39 billion, a P/E ratio of -11.20, a PEG ratio of 1.39 and a beta of 0.71.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. On average, equities analysts predict that Teva Pharmaceutical Industries Limited will post 2.62 EPS for the current fiscal year.

Teva Pharmaceutical Industries 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.