Norges Bank Acquires Shares of 1,749,070 Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Norges Bank bought a new position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,749,070 shares of the company’s stock, valued at approximately $38,550,000. Norges Bank owned approximately 0.15% of Teva Pharmaceutical Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TEVA. Stifel Financial Corp boosted its holdings in shares of Teva Pharmaceutical Industries by 54.0% during the 3rd quarter. Stifel Financial Corp now owns 66,391 shares of the company’s stock valued at $1,196,000 after purchasing an additional 23,283 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Teva Pharmaceutical Industries by 7.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 498,309 shares of the company’s stock valued at $10,983,000 after buying an additional 33,277 shares during the last quarter. Pinnbrook Capital Management LP purchased a new position in Teva Pharmaceutical Industries during the 4th quarter valued at approximately $4,966,000. Asset Management One Co. Ltd. increased its stake in Teva Pharmaceutical Industries by 14.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 457,371 shares of the company’s stock worth $10,414,000 after acquiring an additional 58,413 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $3,340,000. 54.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEVA has been the subject of a number of recent research reports. Bank of America cut their target price on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group dropped their price objective on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Piper Sandler upped their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Barclays dropped their price target on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Teva Pharmaceutical Industries Stock Down 6.9 %

Shares of NYSE:TEVA opened at $13.83 on Friday. The firm has a market capitalization of $15.68 billion, a PE ratio of -9.54, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82. The business has a 50 day simple moving average of $16.52 and a two-hundred day simple moving average of $18.01. Teva Pharmaceutical Industries Limited has a 1 year low of $12.51 and a 1 year high of $22.80. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. On average, equities analysts predict that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current year.

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.