Sphera Funds Management LTD. Trims Stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Sphera Funds Management LTD. decreased its holdings in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,569,181 shares of the company’s stock after selling 561,035 shares during the period. Teva Pharmaceutical Industries comprises about 6.2% of Sphera Funds Management LTD.’s portfolio, making the stock its largest holding. Sphera Funds Management LTD.’s holdings in Teva Pharmaceutical Industries were worth $34,585,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Teva Pharmaceutical Industries by 30.7% during the fourth quarter. FMR LLC now owns 81,983,231 shares of the company’s stock worth $1,806,910,000 after buying an additional 19,242,468 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in Teva Pharmaceutical Industries by 12.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 38,962,773 shares of the company’s stock worth $859,935,000 after acquiring an additional 4,418,961 shares during the period. Ion Asset Management Ltd. grew its stake in shares of Teva Pharmaceutical Industries by 1.1% in the fourth quarter. Ion Asset Management Ltd. now owns 36,650,000 shares of the company’s stock worth $807,766,000 after purchasing an additional 409,778 shares in the last quarter. Lingotto Investment Management LLP grew its stake in shares of Teva Pharmaceutical Industries by 2.6% in the fourth quarter. Lingotto Investment Management LLP now owns 27,192,388 shares of the company’s stock worth $599,320,000 after purchasing an additional 688,862 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Teva Pharmaceutical Industries by 2.2% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,035,422 shares of the company’s stock valued at $573,822,000 after purchasing an additional 569,412 shares during the period. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA opened at $16.83 on Friday. Teva Pharmaceutical Industries Limited has a twelve month low of $12.47 and a twelve month high of $22.80. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. The firm has a 50-day moving average of $15.34 and a two-hundred day moving average of $17.43. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of -11.61, a PEG ratio of 1.44 and a beta of 0.62.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEVA. Piper Sandler upped their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $23.00 in a research report on Monday. UBS Group reduced their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Bank of America increased their price objective on shares of Teva Pharmaceutical Industries from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Barclays dropped their target price on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries presently has an average rating of “Buy” and an average price target of $24.43.

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.