Rubric Capital Management LP Cuts Holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Rubric Capital Management LP lessened its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,261,741 shares of the company’s stock after selling 407,847 shares during the quarter. Teva Pharmaceutical Industries makes up 7.4% of Rubric Capital Management LP’s holdings, making the stock its largest holding. Rubric Capital Management LP owned about 1.52% of Teva Pharmaceutical Industries worth $280,503,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Teva Pharmaceutical Industries in the 1st quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth $30,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Teva Pharmaceutical Industries during the 2nd quarter worth $48,000. Byrne Asset Management LLC purchased a new stake in shares of Teva Pharmaceutical Industries during the 2nd quarter worth $52,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth $54,000. Institutional investors own 54.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TEVA shares. Bank of America increased their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group raised their price target on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays raised their price target on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 3rd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.89.

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA opened at $17.51 on Friday. The stock’s fifty day moving average is $17.66 and its two-hundred day moving average is $16.07. The firm has a market capitalization of $19.83 billion, a P/E ratio of -42.70, a price-to-earnings-growth ratio of 1.26 and a beta of 0.88. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries Limited has a fifty-two week low of $8.06 and a fifty-two week high of $19.08.

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

Insider Activity at Teva Pharmaceutical Industries

In other news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the completion of the transaction, 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 available at this hyperlink. Company insiders own 0.55% of the company’s stock.

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.