QRG Capital Management Inc. Sells 58,327 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

QRG Capital Management Inc. cut its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 44.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,542 shares of the company’s stock after selling 58,327 shares during the period. QRG Capital Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEVA. ASR Vermogensbeheer N.V. grew its holdings in shares of Teva Pharmaceutical Industries by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 31,915 shares of the company’s stock worth $645,000 after buying an additional 515 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in shares of Teva Pharmaceutical Industries in the third quarter valued at approximately $599,000. Versant Capital Management Inc lifted its position in shares of Teva Pharmaceutical Industries by 21.4% in the third quarter. Versant Capital Management Inc now owns 5,560 shares of the company’s stock worth $112,000 after purchasing an additional 981 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new position in Teva Pharmaceutical Industries during the third quarter worth $303,000. Finally, Nordea Investment Management AB grew its position in Teva Pharmaceutical Industries by 21.3% in the third quarter. Nordea Investment Management AB now owns 124,871 shares of the company’s stock valued at $2,431,000 after purchasing an additional 21,969 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA opened at $31.38 on Wednesday. Teva Pharmaceutical Industries Ltd. has a 12-month low of $12.47 and a 12-month high of $33.42. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 52.30, a P/E/G ratio of 1.82 and a beta of 0.66. The stock’s 50 day moving average price is $29.27 and its two-hundred day moving average price is $22.35. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31.

Analyst Upgrades and Downgrades

TEVA has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Bank of America raised their price target on Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Barclays assumed coverage on Teva Pharmaceutical Industries in a research note on Tuesday, December 9th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.67.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 216,892 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $28.73, for a total value of $6,231,307.16. Following the transaction, the insider directly owned 52,828 shares in the company, valued at $1,517,748.44. The trade was a 80.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roberto Mignone sold 77,400 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $30.24, for a total transaction of $2,340,576.00. Following the sale, the director owned 367,600 shares of the company’s stock, valued at approximately $11,116,224. This represents a 17.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 622,060 shares of company stock worth $17,076,965 in the last quarter. Insiders own 0.55% of the company’s stock.

Teva Pharmaceutical Industries Company 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.