Cornercap Investment Counsel Inc. Trims Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Cornercap Investment Counsel Inc. trimmed its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 39,295 shares of the company’s stock after selling 1,779 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Teva Pharmaceutical Industries were worth $866,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at about $50,000. Ameliora Wealth Management Ltd. purchased a new position in Teva Pharmaceutical Industries during the fourth quarter valued at approximately $66,000. IFP Advisors Inc lifted its holdings in Teva Pharmaceutical Industries by 96.1% in the fourth quarter. IFP Advisors Inc now owns 3,999 shares of the company’s stock valued at $88,000 after acquiring an additional 1,960 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter worth approximately $104,000. Finally, Assetmark Inc. increased its holdings in shares of Teva Pharmaceutical Industries by 1,370.3% during the 4th quarter. Assetmark Inc. now owns 5,205 shares of the company’s stock valued at $115,000 after purchasing an additional 4,851 shares in the last quarter. 54.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEVA. Piper Sandler increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. UBS Group dropped their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Bank of America lowered their target price on Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Barclays reduced their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.43.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA opened at $15.06 on Friday. The business’s fifty day moving average price is $17.21 and its two-hundred day moving average price is $18.12. The firm has a market capitalization of $17.07 billion, a PE ratio of -10.38, a P/E/G ratio of 1.44 and a beta of 0.82. 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 Limited has a 1-year low of $12.51 and a 1-year high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. On average, research analysts expect 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.