Eminence Capital LP Invests $16.25 Million in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Eminence Capital LP acquired a new position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000,000 shares of the company’s stock, valued at approximately $16,250,000. Eminence Capital LP owned about 0.09% of Teva Pharmaceutical Industries as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth $28,000. EntryPoint Capital LLC bought a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth $30,000. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries during the 2nd quarter worth $48,000. Byrne Asset Management LLC bought a new stake in Teva Pharmaceutical Industries in the second quarter worth $52,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Teva Pharmaceutical Industries in the first quarter worth $54,000. 54.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TEVA shares. Bank of America boosted their price target on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group boosted their price target on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday. Argus raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, July 10th. Finally, UBS Group upped their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Teva Pharmaceutical Industries presently has an average rating of “Moderate Buy” and an average price target of $18.89.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA opened at $17.46 on Thursday. Teva Pharmaceutical Industries Limited has a 1 year low of $8.06 and a 1 year high of $19.08. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.59. The company’s 50-day moving average is $17.72 and its 200 day moving average is $16.17. The stock has a market capitalization of $19.78 billion, a P/E ratio of -42.59, a P/E/G ratio of 1.23 and a beta of 0.88.

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

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 24,537 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares in the company, valued at $777,285. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

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.