Norges Bank Purchases New Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Norges Bank acquired a new position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,749,070 shares of the company’s stock, valued at approximately $38,550,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Teva Pharmaceutical Industries by 54.0% during the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock worth $1,196,000 after buying an additional 23,283 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Teva Pharmaceutical Industries by 7.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock worth $10,983,000 after acquiring an additional 33,277 shares in the last quarter. Pinnbrook Capital Management LP bought a new stake in shares of Teva Pharmaceutical Industries in the 4th quarter valued at about $4,966,000. Asset Management One Co. Ltd. lifted its position in shares of Teva Pharmaceutical Industries by 14.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company’s stock worth $10,414,000 after purchasing an additional 58,413 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in shares of Teva Pharmaceutical Industries during the fourth quarter valued at approximately $3,340,000. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

TEVA opened at $13.83 on Friday. The company has a market cap of $15.68 billion, a P/E ratio of -9.54, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82. 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 firm’s 50-day moving average price is $16.52 and its 200-day moving average price is $18.01. Teva Pharmaceutical Industries Limited has a 52-week low of $12.51 and a 52-week high of $22.80.

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%. As a group, equities analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on TEVA shares. Bank of America reduced their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. UBS Group decreased their price objective on 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. Piper Sandler raised their price objective on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Barclays reduced their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Teva Pharmaceutical Industries Company 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.