KBC Group NV Raises Stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA)

KBC Group NV raised its stake in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 26.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 46,916 shares of the company’s stock after buying an additional 9,753 shares during the period. KBC Group NV’s holdings in Teva Pharmaceutical Industries were worth $721,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Oarsman Capital Inc. purchased a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Teva Pharmaceutical Industries during the 4th quarter worth about $44,000. Golden State Wealth Management LLC acquired a new position in Teva Pharmaceutical Industries during the 1st quarter worth about $39,000. Compagnie Lombard Odier SCmA acquired a new position in Teva Pharmaceutical Industries during the 1st quarter worth about $54,000. Finally, Quadrant Capital Group LLC lifted its stake in Teva Pharmaceutical Industries by 27.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,377 shares of the company’s stock worth $96,000 after acquiring an additional 949 shares in the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEVA. Hsbc Global Res raised Teva Pharmaceutical Industries to a “strong-buy” rating in a research note on Monday, April 28th. Truist Financial assumed coverage on Teva Pharmaceutical Industries in a research report on Wednesday, May 28th. They issued a “buy” rating and a $25.00 price target on the stock. Wall Street Zen upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. UBS Group reduced their target price on shares of Teva Pharmaceutical Industries from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Teva Pharmaceutical Industries in a report on Friday, June 6th. They issued a “buy” rating and a $24.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $24.13.

Insider Buying and Selling

In other Teva Pharmaceutical Industries news, EVP Matthew Shields sold 6,206 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.02, for a total transaction of $105,626.12. Following the transaction, the executive vice president owned 9,989 shares of the company’s stock, valued at $170,012.78. The trade was a 38.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.49% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA opened at $17.05 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 1.03. Teva Pharmaceutical Industries Ltd. has a fifty-two week low of $12.47 and a fifty-two week high of $22.80. The firm has a market capitalization of $19.56 billion, a PE ratio of -14.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The stock’s 50-day simple moving average is $16.99 and its 200-day simple moving average is $17.37.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Teva Pharmaceutical Industries had a positive return on equity of 45.44% and a negative net margin of 7.74%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the company earned $0.48 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Teva Pharmaceutical Industries Ltd. will post 2.5 EPS for the current fiscal year.

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.