Public Employees Retirement Association of Colorado Reduces Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Public Employees Retirement Association of Colorado cut its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 237,226 shares of the company’s stock after selling 12,100 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Teva Pharmaceutical Industries were worth $3,855,000 at the end of the most recent quarter.

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

Teva Pharmaceutical Industries Trading Down 1.4 %

Shares of TEVA opened at $17.51 on Monday. Teva Pharmaceutical Industries Limited has a fifty-two week low of $8.06 and a fifty-two week high of $19.08. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of -42.71, a PEG ratio of 1.26 and a beta of 0.88. The firm has a 50 day moving average price of $17.66 and a 200-day moving average price of $16.11. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted 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. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $3.99 billion. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. As a group, equities research analysts forecast that Teva Pharmaceutical Industries Limited will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. Bank of America raised their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 30th. StockNews.com raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. Jefferies Financial Group lifted their target price on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Barclays raised their price objective on shares of Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Insider Buying and Selling

In other news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $17.25, for a total transaction of $423,263.25. Following the completion of the sale, the insider now owns 45,060 shares of the company’s stock, valued at $777,285. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.