Abrams Capital Management L.P. Sells 1,969,597 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Abrams Capital Management L.P. reduced its position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,996,836 shares of the company’s stock after selling 1,969,597 shares during the quarter. Teva Pharmaceutical Industries comprises about 1.9% of Abrams Capital Management L.P.’s portfolio, making the stock its 11th largest position. Abrams Capital Management L.P. owned about 0.53% of Teva Pharmaceutical Industries worth $62,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Teva Pharmaceutical Industries by 92.3% in the 4th quarter. Blue Trust Inc. now owns 4,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,180 shares in the last quarter. Signaturefd LLC boosted its holdings in Teva Pharmaceutical Industries by 90.8% in the third quarter. Signaturefd LLC now owns 5,032 shares of the company’s stock valued at $51,000 after acquiring an additional 2,394 shares during the last quarter. Psagot Value Holdings Ltd. Israel acquired a new stake in Teva Pharmaceutical Industries during the 4th quarter valued at approximately $57,000. Desjardins Global Asset Management Inc. raised its holdings in Teva Pharmaceutical Industries by 15.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 8,123 shares of the company’s stock worth $85,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Schechter Investment Advisors LLC acquired a new position in shares of Teva Pharmaceutical Industries in the 4th quarter worth approximately $117,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from an “underweight” rating to a “neutral” rating and set a $14.00 target price on the stock in a report on Friday, March 8th. The Goldman Sachs Group lifted their target price on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays boosted their price target on Teva Pharmaceutical Industries from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 price target (up from $19.00) on shares of Teva Pharmaceutical Industries in a research note on Monday, May 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.22.

Teva Pharmaceutical Industries Stock Down 1.0 %

Shares of NYSE:TEVA traded down $0.16 during trading on Friday, reaching $16.60. 6,581,825 shares of the stock were exchanged, compared to its average volume of 10,953,453. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.89 and a quick ratio of 0.61. Teva Pharmaceutical Industries Limited has a 1-year low of $7.09 and a 1-year high of $17.13. The stock has a fifty day moving average of $14.38 and a two-hundred day moving average of $12.32. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of -40.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.04.

Insider Transactions at Teva Pharmaceutical Industries

In other news, VP Eric Drape sold 9,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $13.12, for a total transaction of $128,772.80. Following the transaction, the vice president now directly owns 9,701 shares of the company’s stock, valued at $127,277.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Eric Drape sold 9,815 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $13.12, for a total value of $128,772.80. Following the completion of the sale, the vice president now directly owns 9,701 shares of the company’s stock, valued at approximately $127,277.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Sabag sold 100,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.52, for a total value of $1,352,000.00. Following the completion of the sale, the executive vice president now directly owns 382,590 shares of the company’s stock, valued at $5,172,616.80. The disclosure for this sale can be found here. Insiders have sold 141,900 shares of company stock valued at $2,013,861 over the last ninety days. 0.55% of the stock is owned by company insiders.

Teva Pharmaceutical Industries Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.