Mivtachim Reduces Stake in Teva Pharmaceutical Industries

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management has reduced its investment in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 4.7% during the third quarter, according to its recent filing with the SEC. After selling 67,612 shares, the fund now holds a total of 1,385,731 shares of Teva.

Teva Pharmaceutical Industries accounts for approximately 3.4% of Mivtachim’s total holdings, ranking as its 11th largest investment. By the end of the most recent reporting period, Mivtachim's stake in Teva was valued at about $24.97 million.

Institutional Investor Activity

In addition to Mivtachim, several other institutional investors have made changes to their positions in Teva Pharmaceutical Industries. New Covenant Trust Company N.A. established a new position in the company valued at around $28,000 in the first quarter. Likewise, EntryPoint Capital LLC acquired shares worth about $30,000. UMB Bank N.A. significantly increased its stake in the third quarter, boosting their holdings by an impressive 555.6%, now owning 2,439 shares valued at approximately $44,000.

Moreover, Beach Investment Counsel Inc. PA also made a new investment in Teva during the second quarter, valued at about $48,000. Byrne Asset Management LLC similarly purchased shares worth around $52,000 during the same period. Overall, institutional investors possess a collective ownership of 54.05% of Teva’s stock.

Analyst Ratings and Price Target Adjustments

Many research firms have recently updated their ratings on Teva Pharmaceutical Industries. Barclays recently raised its target price for Teva shares from $22.00 to $25.00, issuing an "overweight" rating on October 23rd. Similarly, JPMorgan Chase & Co. adjusted their price target upward from $16.00 to $18.00 and tagged the stock with a "neutral" rating on October 21st.

StockNews.com also upgraded Teva’s rating from "buy" to "strong buy" in a report released on October 17th. Furthermore, UBS Group raised its target price from $24.00 to $26.00, maintaining a "buy" rating as of September 3rd. Collectively, analysts have provided a consensus rating of "Moderate Buy" for Teva, with an average target price set at $19.67.

Current Stock Performance and Financials

As of the latest trading session, Teva Pharmaceutical Industries stock experienced a decline of $0.39, bringing its value to $17.11. The trading volume for the day reached 6,225,171 shares, slightly below the average volume of 6,402,547 shares. Teva's liquidity ratios reflect a quick ratio of 0.59 and a current ratio of 0.89, coupled with a debt-to-equity ratio of 2.57. The stock's moving average over the past 50 days is $17.94, while the 200-day moving average stands at $17.12. Over the past year, Teva stock has hit a low of $8.55 and a high of $19.31. The company currently holds a market capitalization of $19.38 billion and presents a price-to-earnings ratio of -20.13.

Teva Pharmaceutical Industries recently disclosed its quarterly earnings on November 6th, reporting earnings per share (EPS) of $0.67, exceeding the consensus estimate of $0.63 by $0.04. The company achieved substantial revenue of $4.33 billion for the quarter, outperforming the expected revenue of $4.08 billion. Analysts predict the full year EPS for Teva to be 2.34.

Teva's Business Overview

Teva Pharmaceutical Industries Limited specializes in the development, manufacture, marketing, and distribution of generic medicines, specialty medicines, and biopharmaceutical products on a global scale. The company's product portfolio includes various dosage forms such as tablets, capsules, injectables, inhalers, liquids, transdermal patches, ointments, and creams, along with sterile products and high-potency drugs.

Mivtachim, Teva, Investments