Allspring Global Investments Holdings LLC Sells 159,581 Shares of Teva Pharmaceutical Industries Ltd. $TEVA

Allspring Global Investments Holdings LLC decreased its position in Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 8.7% during the 1st quarter, Holdings Channel reports. The firm owned 1,664,546 shares of the company’s stock after selling 159,581 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Teva Pharmaceutical Industries were worth $50,353,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in Teva Pharmaceutical Industries during the 4th quarter valued at about $25,000. Allworth Financial LP raised its holdings in shares of Teva Pharmaceutical Industries by 53.8% during the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock valued at $29,000 after acquiring an additional 329 shares in the last quarter. Grove Bank & Trust lifted its stake in Teva Pharmaceutical Industries by 300.0% in the fourth quarter. Grove Bank & Trust now owns 1,000 shares of the company’s stock worth $31,000 after acquiring an additional 750 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Teva Pharmaceutical Industries by 51.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Teva Pharmaceutical Industries by 567.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,334 shares of the company’s stock valued at $42,000 after acquiring an additional 1,134 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Stock Down 0.7%

Shares of Teva Pharmaceutical Industries stock opened at $32.00 on Friday. Teva Pharmaceutical Industries Ltd. has a 1 year low of $14.99 and a 1 year high of $37.35. The firm has a market cap of $36.79 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 3.38 and a beta of 0.86. The company has a 50-day moving average of $33.76 and a 200 day moving average of $32.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 EPS for the quarter. The business had revenue of $3.98 billion for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on TEVA shares. UBS Group raised their target price on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Truist Financial increased their price target on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Bank of America raised their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Barclays lifted their price objective on Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Teva Pharmaceutical Industries currently has an average rating of “Moderate Buy” and an average price target of $41.78.

Insider Activity

In related news, EVP Richard Daniell sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the completion of the transaction, the executive vice president owned 55,755 shares of the company’s stock, valued at $1,973,727. This trade represents a 34.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of Teva Pharmaceutical Industries stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total value of $384,444.00. Following the transaction, the chief accounting officer owned 20,016 shares of the company’s stock, valued at $720,576. The trade was a 34.79% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is currently owned by insiders.

Teva Pharmaceutical Industries 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.