Pictet Asset Management Ltd. Cuts Position in Teva Pharmaceutical Industries Ltd (NYSE:TEVA)

Pictet Asset Management Ltd. decreased its position in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 295,480 shares of the company’s stock after selling 1,860 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Teva Pharmaceutical Industries were worth $2,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TEVA. AdvisorNet Financial Inc boosted its position in shares of Teva Pharmaceutical Industries by 71.3% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,665 shares of the company’s stock worth $25,000 after acquiring an additional 1,525 shares in the last quarter. First Interstate Bank purchased a new stake in Teva Pharmaceutical Industries during the second quarter worth approximately $28,000. Motco purchased a new stake in Teva Pharmaceutical Industries during the third quarter worth approximately $28,000. Lindbrook Capital LLC boosted its holdings in Teva Pharmaceutical Industries by 76.6% in the third quarter. Lindbrook Capital LLC now owns 4,461 shares of the company’s stock valued at $31,000 after purchasing an additional 1,935 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Teva Pharmaceutical Industries in the second quarter valued at approximately $32,000. Institutional investors own 54.10% of the company’s stock.

Shares of NYSE:TEVA opened at $9.92 on Friday. Teva Pharmaceutical Industries Ltd has a 1-year low of $6.07 and a 1-year high of $20.33. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.89 and a quick ratio of 0.56. The stock has a market cap of $10.83 billion, a P/E ratio of 3.54, a P/E/G ratio of 1.12 and a beta of 1.82. The firm has a fifty day moving average price of $9.22 and a 200 day moving average price of $8.34.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). Teva Pharmaceutical Industries had a negative net margin of 22.88% and a positive return on equity of 15.41%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.25 billion. Sell-side analysts expect that Teva Pharmaceutical Industries Ltd will post 2.26 EPS for the current fiscal year.

TEVA has been the topic of a number of research analyst reports. ValuEngine cut shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from an “underweight” rating to a “neutral” rating and set a $8.00 target price for the company in a report on Tuesday, November 12th. Gabelli raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets cut their price target on shares of Teva Pharmaceutical Industries from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Finally, Guggenheim began coverage on shares of Teva Pharmaceutical Industries in a research note on Thursday, September 12th. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.64.

In related news, VP Hafrun Fridriksdottir sold 4,310 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.49, for a total transaction of $45,211.90. Following the transaction, the vice president now owns 24,883 shares of the company’s stock, valued at $261,022.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 18,033 shares of company stock worth $102,261. Corporate insiders own 0.49% of the company’s stock.

Teva Pharmaceutical Industries Company 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.

See Also: Why Net Income is Important to Investors

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

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