Bank of New York Mellon Corp cut its stake in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 85.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,101,654 shares of the company’s stock after selling 12,818,671 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.21% of Teva Pharmaceutical Industries worth $39,827,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TEVA. Calton & Associates Inc. acquired a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $108,000. Fieldpoint Private Securities LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 3rd quarter worth approximately $171,000. Global Financial Private Capital LLC acquired a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $193,000. Sigma Planning Corp acquired a new position in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $214,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of Teva Pharmaceutical Industries by 81.5% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 12,239 shares of the company’s stock worth $215,000 after buying an additional 5,497 shares during the period. 58.22% of the stock is owned by institutional investors and hedge funds.
TEVA has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded Teva Pharmaceutical Industries from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $11.48 to $11.00 in a research note on Monday, November 13th. Cantor Fitzgerald set a $10.00 price objective on Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Tuesday, November 14th. Mizuho reissued a “neutral” rating and issued a $12.00 price objective (down from $15.00) on shares of Teva Pharmaceutical Industries in a research note on Friday, November 17th. Wells Fargo & Co reissued a “hold” rating on shares of Teva Pharmaceutical Industries in a research note on Saturday, November 25th. Finally, BTIG Research set a $16.00 price objective on Teva Pharmaceutical Industries and gave the company a “buy” rating in a research note on Tuesday, November 28th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.81.
Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Teva Pharmaceutical Industries had a positive return on equity of 16.43% and a negative net margin of 72.66%. The company’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 EPS. equities research analysts anticipate that Teva Pharmaceutical Industries Ltd will post 2.31 earnings per share for the current year.
In other news, EVP Mark Sabag sold 5,050 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.68, for a total transaction of $99,384.00. Following the completion of the transaction, the executive vice president now directly owns 44,517 shares in the company, valued at approximately $876,094.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 7,636 shares of company stock valued at $149,390. Company insiders own 7.10% of the company’s stock.
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Teva Pharmaceutical Industries Profile
Teva Pharmaceutical Industries Limited is a pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. The Company develops, manufactures and sells generic medicines in a range of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams.
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