abrdn plc Sells 87,512 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

abrdn plc decreased its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 593,193 shares of the company’s stock after selling 87,512 shares during the period. abrdn plc owned 0.05% of Teva Pharmaceutical Industries worth $10,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Sequoia Financial Advisors LLC increased its holdings in Teva Pharmaceutical Industries by 0.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 112,380 shares of the company’s stock worth $2,025,000 after acquiring an additional 805 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Teva Pharmaceutical Industries by 4.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 24,495 shares of the company’s stock valued at $346,000 after purchasing an additional 947 shares during the period. Signaturefd LLC raised its holdings in Teva Pharmaceutical Industries by 16.9% during the 3rd quarter. Signaturefd LLC now owns 7,583 shares of the company’s stock valued at $137,000 after buying an additional 1,094 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Teva Pharmaceutical Industries by 9.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 13,522 shares of the company’s stock valued at $191,000 after buying an additional 1,180 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in Teva Pharmaceutical Industries by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 144,938 shares of the company’s stock worth $2,355,000 after acquiring an additional 1,191 shares during the last quarter. 54.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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. lifted their price target on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays upped their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group boosted their price target on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 10th. Two equities research 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. According to data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Teva Pharmaceutical Industries Price Performance

TEVA stock opened at $18.46 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The firm has a 50 day moving average price of $18.03 and a 200-day moving average price of $16.89. Teva Pharmaceutical Industries Limited has a 52-week low of $8.55 and a 52-week high of $19.08. The firm has a market capitalization of $20.91 billion, a price-to-earnings ratio of -47.32, a PEG ratio of 1.34 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.99 billion. Equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.33 EPS for the current fiscal 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.