Principal Financial Group Inc. Reduces Holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Principal Financial Group Inc. lowered its position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,719 shares of the company’s stock after selling 17,697 shares during the quarter. Principal Financial Group Inc.’s holdings in Teva Pharmaceutical Industries were worth $1,617,000 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. bought a new position in Teva Pharmaceutical Industries in the 1st quarter valued at $28,000. EntryPoint Capital LLC bought a new position in shares of Teva Pharmaceutical Industries in the first quarter worth about $30,000. UMB Bank n.a. increased its position in shares of Teva Pharmaceutical Industries by 555.6% during the third quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after acquiring an additional 2,067 shares during the period. Beach Investment Counsel Inc. PA purchased a new position in Teva Pharmaceutical Industries during the 2nd quarter worth $48,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Teva Pharmaceutical Industries during the second quarter valued at $52,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $17.12 on Friday. Teva Pharmaceutical Industries Limited has a twelve month low of $9.35 and a twelve month high of $19.31. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The company has a market cap of $19.40 billion, a PE ratio of -20.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.87. The company’s 50 day moving average is $17.67 and its 200 day moving average is $17.32.

Insider Activity

In related news, EVP Christine Fox sold 19,388 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total transaction of $327,075.56. Following the sale, the executive vice president now owns 44,104 shares in the company, valued at approximately $744,034.48. This trade represents a 30.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEVA. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. UBS Group boosted their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays raised their price target on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Teva Pharmaceutical Industries Company 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.