CIBC Asset Management Inc Boosts Holdings in Teva Pharmaceutical Industries Ltd. $TEVA

CIBC Asset Management Inc increased its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,704 shares of the company’s stock after buying an additional 25,153 shares during the period. CIBC Asset Management Inc’s holdings in Teva Pharmaceutical Industries were worth $4,267,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TEVA. Norges Bank purchased a new stake in Teva Pharmaceutical Industries during the fourth quarter worth about $1,098,060,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Teva Pharmaceutical Industries by 19.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,951,773 shares of the company’s stock worth $1,402,945,000 after buying an additional 7,255,083 shares during the last quarter. Wellington Management Group LLP increased its holdings in Teva Pharmaceutical Industries by 39,228.4% during the third quarter. Wellington Management Group LLP now owns 6,895,838 shares of the company’s stock worth $139,296,000 after buying an additional 6,878,304 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in Teva Pharmaceutical Industries during the third quarter worth about $100,939,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Teva Pharmaceutical Industries by 14.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 37,402,212 shares of the company’s stock worth $1,167,323,000 after buying an additional 4,820,000 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Key Headlines Impacting Teva Pharmaceutical Industries

Here are the key news stories impacting Teva Pharmaceutical Industries this week:

• Positive Sentiment: Teva reported new real-world survey data showing AUSTEDO and AUSTEDO XR improved quality-of-life measures for Huntington’s disease chorea patients and reduced caregiver strain, supporting the outlook for one of its key branded medicines. Article Title
• Positive Sentiment: Teva expanded its European biosimilars business with the launch of AHZANTIVE, strengthening its growth strategy and broadening its presence in ophthalmology. Article Title
• Neutral Sentiment: Industry coverage highlighted Teva as a generic-drug stock to watch as biosimilars, complex generics and specialty drugs become increasingly important growth drivers. Article Title

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TEVA shares. JPMorgan Chase & Co. raised their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. UBS Group lifted 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 note on Thursday, April 30th. Wall Street Zen upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America lifted their target price on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Finally, Barclays lifted their target price on shares of Teva Pharmaceutical Industries from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Teva Pharmaceutical Industries has an average rating of “Moderate Buy” and a consensus price target of $41.78.

Insider Activity at Teva Pharmaceutical Industries

In related news, EVP Christine Fox sold 21,258 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $35.31, for a total transaction of $750,619.98. Following the completion of the transaction, the executive vice president owned 63,647 shares of the company’s stock, valued at approximately $2,247,375.57. The trade was a 25.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Daniell sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the transaction, the executive vice president directly owned 55,755 shares of the company’s stock, valued at approximately $1,973,727. This represents a 34.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 421,470 shares of company stock valued at $14,570,945 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Teva Pharmaceutical Industries Price Performance

TEVA opened at $34.21 on Friday. The company has a market capitalization of $39.34 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.49 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. The firm has a 50-day moving average price of $32.82 and a 200-day moving average price of $31.63. Teva Pharmaceutical Industries Ltd. has a twelve month low of $14.99 and a twelve month high of $37.35.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. The firm had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. Equities analysts expect that Teva Pharmaceutical Industries Ltd. will post 2.36 EPS for the current year.

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.