State of New Jersey Common Pension Fund D Sells 218,705 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

State of New Jersey Common Pension Fund D reduced its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 32.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,809 shares of the company’s stock after selling 218,705 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Teva Pharmaceutical Industries were worth $7,423,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TEVA. New Covenant Trust Company N.A. purchased a new stake in shares of Teva Pharmaceutical Industries in the first quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the first quarter worth $30,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Teva Pharmaceutical Industries in the second quarter worth $48,000. Byrne Asset Management LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the second quarter worth $52,000. Finally, GAMMA Investing LLC raised its position in shares of Teva Pharmaceutical Industries by 105.7% in the second quarter. GAMMA Investing LLC now owns 3,388 shares of the company’s stock worth $55,000 after buying an additional 1,741 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Teva Pharmaceutical Industries Stock Up 2.2 %

TEVA opened at $18.41 on Monday. The company has a market cap of $20.86 billion, a P/E ratio of -44.90, a P/E/G ratio of 1.26 and a beta of 0.88. The business’s 50-day moving average price is $17.55 and its 200-day moving average price is $15.95. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. Teva Pharmaceutical Industries Limited has a 12 month low of $8.06 and a 12 month high of $19.08.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. On average, equities analysts expect that Teva Pharmaceutical Industries Limited will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TEVA. Barclays increased their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 3rd. UBS Group raised their price target on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 10th. Finally, Bank of America raised their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries presently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Insider Buying and Selling

In related news, insider Eric A. Hughes sold 24,537 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now directly owns 45,060 shares of the company’s stock, valued at $777,285. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the sale, the insider now directly owns 45,060 shares of the company’s stock, valued at approximately $777,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roberto Mignone sold 519,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total value of $8,838,570.00. Following the sale, the director now directly owns 981,000 shares in the company, valued at $16,706,430. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

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.