PNC Financial Services Group Inc. Sells 6,391 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

PNC Financial Services Group Inc. lowered its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,567 shares of the company’s stock after selling 6,391 shares during the period. PNC Financial Services Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TEVA. FMR LLC lifted its stake in Teva Pharmaceutical Industries by 3,553.8% during the 3rd quarter. FMR LLC now owns 2,564,339 shares of the company’s stock valued at $26,156,000 after acquiring an additional 2,494,156 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Teva Pharmaceutical Industries by 7.1% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 32,804,131 shares of the company’s stock worth $342,788,000 after purchasing an additional 2,188,212 shares during the last quarter. Meitav Investment House Ltd. grew its position in Teva Pharmaceutical Industries by 82.8% in the 4th quarter. Meitav Investment House Ltd. now owns 4,305,674 shares of the company’s stock worth $44,914,000 after purchasing an additional 1,950,500 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Teva Pharmaceutical Industries by 6.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,919,540 shares of the company’s stock valued at $301,920,000 after buying an additional 1,860,000 shares during the last quarter. Finally, Glenview Capital Management LLC bought a new position in shares of Teva Pharmaceutical Industries during the 4th quarter valued at $16,752,000. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teva Pharmaceutical Industries

In related news, insider Vikki L. Conway sold 15,219 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.74, for a total value of $254,766.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Teva Pharmaceutical Industries news, insider Vikki L. Conway sold 15,219 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.74, for a total transaction of $254,766.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amir Weiss sold 15,500 shares of Teva Pharmaceutical Industries stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $16.80, for a total transaction of $260,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,814 shares of the company’s stock, valued at $299,275.20. The disclosure for this sale can be found here. Insiders have sold 549,719 shares of company stock valued at $9,353,736 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $16.51 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of -40.26, a P/E/G ratio of 1.62 and a beta of 0.91. The firm has a fifty day moving average price of $15.79 and a 200 day moving average price of $13.57. Teva Pharmaceutical Industries Limited has a fifty-two week low of $7.42 and a fifty-two week high of $17.69.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.70 billion. Teva Pharmaceutical Industries had a negative net margin of 2.88% and a positive return on equity of 37.33%. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Limited will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TEVA shares. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Barclays boosted their price objective on Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. 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 research note on Friday, March 8th. Bank of America upped their price target on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

About Teva Pharmaceutical Industries

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.