Nordea Investment Management AB Boosts Holdings in Teva Pharmaceutical Industries Ltd (NYSE:TEVA)

Nordea Investment Management AB raised its stake in shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,870 shares of the company’s stock after purchasing an additional 2,172 shares during the quarter. Nordea Investment Management AB’s holdings in Teva Pharmaceutical Industries were worth $1,597,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC increased its stake in shares of Teva Pharmaceutical Industries by 2,175.0% in the fourth quarter. Bruderman Asset Management LLC now owns 2,366 shares of the company’s stock worth $36,000 after acquiring an additional 2,262 shares during the period. Lindbrook Capital LLC increased its stake in shares of Teva Pharmaceutical Industries by 61.2% in the first quarter. Lindbrook Capital LLC now owns 2,489 shares of the company’s stock worth $39,000 after acquiring an additional 945 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Teva Pharmaceutical Industries in the first quarter worth $40,000. Edgemoor Investment Advisors Inc. acquired a new stake in shares of Teva Pharmaceutical Industries in the first quarter worth $54,000. Finally, Huntington National Bank increased its stake in shares of Teva Pharmaceutical Industries by 88.2% in the first quarter. Huntington National Bank now owns 3,680 shares of the company’s stock worth $57,000 after acquiring an additional 1,725 shares during the period. Institutional investors and hedge funds own 65.05% of the company’s stock.

In other news, VP Notaristefani Carlo De sold 16,070 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.42, for a total value of $183,519.40. Following the completion of the sale, the vice president now directly owns 49,659 shares in the company, valued at $567,105.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sol J. Barer bought 111,000 shares of Teva Pharmaceutical Industries stock in a transaction dated Monday, June 3rd. The stock was acquired at an average price of $8.98 per share, with a total value of $996,780.00. Following the completion of the transaction, the director now directly owns 115,942 shares of the company’s stock, valued at $1,041,159.16. The disclosure for this purchase can be found here. 0.49% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on TEVA. Sanford C. Bernstein set a €108.00 ($125.58) price objective on shares of Merck KGaA and gave the stock a “neutral” rating in a research note on Tuesday, June 18th. Citigroup cut their price objective on shares of Thor Industries from $78.00 to $70.00 in a research note on Monday, June 17th. CIBC upgraded shares of Centerra Gold from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$9.00 to C$10.50 in a research note on Monday, June 3rd. Maxim Group reissued a “hold” rating on shares of Arlington Asset Investment in a report on Thursday, May 2nd. Finally, Credit Suisse Group assumed coverage on shares of LTC Properties in a report on Wednesday, July 10th. They set an “underperform” rating and a $19.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $15.39.

TEVA traded up $0.08 during midday trading on Friday, hitting $7.91. 17,323,327 shares of the company traded hands, compared to its average volume of 17,668,984. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.62. The stock has a market cap of $7.96 billion, a P/E ratio of 2.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.62. Teva Pharmaceutical Industries Ltd has a 52-week low of $7.66 and a 52-week high of $25.96. The stock’s 50 day moving average price is $8.87.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Teva Pharmaceutical Industries had a negative net margin of 18.66% and a positive return on equity of 16.84%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Equities analysts expect that Teva Pharmaceutical Industries Ltd will post 2.27 EPS for the current year.

About Teva Pharmaceutical Industries

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.

Read More: Cost of Goods Sold (COGS)

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

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