Panagora Asset Management Inc. Acquires 128,792 Shares of Teva Pharmaceutical Industries Ltd (TEVA)

Panagora Asset Management Inc. grew its holdings in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 47.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,884 shares of the company’s stock after acquiring an additional 128,792 shares during the period. Panagora Asset Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $8,678,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. First Republic Investment Management Inc. raised its stake in Teva Pharmaceutical Industries by 30.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 20,110 shares of the company’s stock valued at $489,000 after purchasing an additional 4,657 shares during the last quarter. Global Financial Private Capital LLC raised its stake in Teva Pharmaceutical Industries by 92.2% during the 2nd quarter. Global Financial Private Capital LLC now owns 23,632 shares of the company’s stock valued at $575,000 after purchasing an additional 11,335 shares during the last quarter. Sei Investments Co. raised its stake in Teva Pharmaceutical Industries by 26.8% during the 2nd quarter. Sei Investments Co. now owns 162,241 shares of the company’s stock valued at $3,946,000 after purchasing an additional 34,305 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in Teva Pharmaceutical Industries during the 3rd quarter valued at $485,000. Finally, Toronto Dominion Bank acquired a new position in Teva Pharmaceutical Industries during the 2nd quarter valued at $669,000. 61.66% of the stock is owned by institutional investors.

Shares of TEVA stock opened at $21.59 on Tuesday. Teva Pharmaceutical Industries Ltd has a 52-week low of $14.05 and a 52-week high of $25.96. The firm has a market capitalization of $21.90 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 6.49 and a beta of 0.74. The company has a quick ratio of 0.61, a current ratio of 0.94 and a debt-to-equity ratio of 1.75.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Thursday, November 1st. The company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.11. Teva Pharmaceutical Industries had a negative net margin of 54.67% and a positive return on equity of 21.83%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, equities research analysts forecast that Teva Pharmaceutical Industries Ltd will post 2.82 earnings per share for the current year.

In other news, VP Richard Daniell sold 2,488 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $23.69, for a total value of $58,940.72. Following the sale, the vice president now owns 2,488 shares of the company’s stock, valued at approximately $58,940.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Deborah A. Griffin sold 2,376 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $23.71, for a total transaction of $56,334.96. Following the completion of the sale, the insider now directly owns 2,376 shares in the company, valued at approximately $56,334.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,531 shares of company stock worth $152,749. 0.43% of the stock is owned by insiders.

TEVA has been the subject of several research analyst reports. Mizuho upped their target price on shares of Teva Pharmaceutical Industries from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Wells Fargo & Co set a $23.00 target price on shares of Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Monday, September 17th. Bank of America upped their target price on shares of Teva Pharmaceutical Industries from $19.00 to $20.00 and gave the company an “underperform” rating in a research note on Friday, November 2nd. Cantor Fitzgerald set a $25.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a “hold” rating in a research note on Friday, September 14th. Finally, Goldman Sachs Group upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “conviction-buy” rating and set a $30.00 price objective for the company in a research note on Monday, October 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Teva Pharmaceutical Industries currently has an average rating of “Hold” and an average target price of $21.94.

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Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.

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Institutional Ownership by Quarter for Teva Pharmaceutical Industries (NYSE:TEVA)

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