King Wealth Management Group Trims Stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

King Wealth Management Group trimmed its position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 85.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,500 shares of the company’s stock after selling 83,602 shares during the quarter. King Wealth Management Group’s holdings in Teva Pharmaceutical Industries were worth $3,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Teva Pharmaceutical Industries by 49.5% during the 3rd quarter. FMR LLC now owns 62,740,763 shares of the company’s stock valued at $1,130,589,000 after purchasing an additional 20,762,226 shares during the period. Janus Henderson Group PLC increased its holdings in Teva Pharmaceutical Industries by 7,945.2% during the third quarter. Janus Henderson Group PLC now owns 4,791,937 shares of the company’s stock valued at $86,350,000 after buying an additional 4,732,374 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in Teva Pharmaceutical Industries by 12.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company’s stock worth $859,935,000 after buying an additional 4,418,961 shares in the last quarter. Todd Asset Management LLC bought a new position in Teva Pharmaceutical Industries in the fourth quarter worth approximately $58,243,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Teva Pharmaceutical Industries by 237.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,377,517 shares of the company’s stock worth $60,863,000 after buying an additional 2,376,668 shares during the period. Institutional investors own 54.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TEVA shares. UBS Group cut their price target 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. Barclays cut their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Bank of America decreased their price target on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Teva Pharmaceutical Industries Stock Performance

Shares of Teva Pharmaceutical Industries stock opened at $16.50 on Friday. The firm has a market capitalization of $18.70 billion, a P/E ratio of -11.38, a PEG ratio of 1.44 and a beta of 0.82. Teva Pharmaceutical Industries Limited has a 52 week low of $12.51 and a 52 week high of $22.80. The company has a quick ratio of 0.75, a current ratio of 0.98 and a debt-to-equity ratio of 2.97. The company has a 50 day moving average price of $18.38 and a 200 day moving average price of $18.31.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. Sell-side analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 695,000 shares in the company, valued at approximately $15,296,950. This represents a 29.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by insiders.

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.