Sumitomo Mitsui Trust Group Inc. Purchases 186,447 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Sumitomo Mitsui Trust Group Inc. raised its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 9.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,173,839 shares of the company’s stock after purchasing an additional 186,447 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $65,476,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Teva Pharmaceutical Industries during the fourth quarter worth $25,000. Allworth Financial LP grew its stake in Teva Pharmaceutical Industries by 53.8% in the 4th quarter. Allworth Financial LP now owns 941 shares of the company’s stock valued at $29,000 after purchasing an additional 329 shares during the period. Grove Bank & Trust increased its position in shares of Teva Pharmaceutical Industries by 300.0% during the 4th quarter. Grove Bank & Trust now owns 1,000 shares of the company’s stock valued at $31,000 after purchasing an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Teva Pharmaceutical Industries by 51.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Teva Pharmaceutical Industries by 567.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,334 shares of the company’s stock worth $42,000 after purchasing an additional 1,134 shares during the period. Institutional investors own 54.05% of the company’s stock.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, insider Mark Sabag sold 144,180 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $34.99, for a total value of $5,044,858.20. Following the sale, the insider directly owned 80,760 shares of the company’s stock, valued at approximately $2,825,792.40. This represents a 64.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amir Weiss sold 10,679 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total transaction of $384,444.00. Following the completion of the transaction, the chief accounting officer owned 20,016 shares of the company’s stock, valued at $720,576. This trade represents a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 465,931 shares of company stock worth $16,332,989. 0.54% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE:TEVA traded down $0.28 during trading on Friday, hitting $32.82. 6,638,115 shares of the company were exchanged, compared to its average volume of 5,223,980. Teva Pharmaceutical Industries Ltd. has a 52-week low of $14.99 and a 52-week high of $37.35. The stock has a 50 day moving average of $34.14 and a 200 day moving average of $32.68. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The company has a market cap of $37.74 billion, a PE ratio of 24.68, a P/E/G ratio of 4.02 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%.The company had revenue of $3.98 billion during the quarter. As a group, equities research analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

TEVA has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Truist Financial increased their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Barclays raised their price target 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, Bank of America lifted their price target on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.78.

Teva Pharmaceutical Industries 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.