Grantham Mayo Van Otterloo & Co. LLC Reduces Stock Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 13.4% in the first quarter, Holdings Channel.com reports. The fund owned 3,248,200 shares of the company’s stock after selling 502,100 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Teva Pharmaceutical Industries were worth $28,747,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Teva Pharmaceutical Industries by 5.5% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,315 shares of the company’s stock valued at $176,000 after buying an additional 1,000 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Teva Pharmaceutical Industries by 0.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,427 shares of the company’s stock valued at $1,553,000 after buying an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Teva Pharmaceutical Industries by 1.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 75,355 shares of the company’s stock valued at $687,000 after buying an additional 1,266 shares in the last quarter. Marshall Wace LLP increased its position in Teva Pharmaceutical Industries by 2.7% during the 4th quarter. Marshall Wace LLP now owns 48,771 shares of the company’s stock valued at $445,000 after buying an additional 1,273 shares in the last quarter. Finally, Spire Wealth Management increased its position in Teva Pharmaceutical Industries by 49.8% during the 1st quarter. Spire Wealth Management now owns 4,209 shares of the company’s stock valued at $37,000 after buying an additional 1,400 shares in the last quarter. 43.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 52,742 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.30, for a total transaction of $437,758.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Teva Pharmaceutical Industries news, insider Eric A. Hughes sold 52,742 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.30, for a total transaction of $437,758.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eliyahu Sharon Kalif sold 35,125 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $9.73, for a total value of $341,766.25. Following the transaction, the chief financial officer now directly owns 99,162 shares of the company’s stock, valued at approximately $964,846.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,848 shares of company stock worth $799,176. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI upgraded Teva Pharmaceutical Industries from an “in-line” rating to an “outperform” rating in a research note on Thursday, May 18th. Morgan Stanley assumed coverage on Teva Pharmaceutical Industries in a research note on Thursday, May 25th. They set an “equal weight” rating and a $10.00 price target on the stock. StockNews.com assumed coverage on Teva Pharmaceutical Industries in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, UBS Group upgraded Teva Pharmaceutical Industries from a “sell” rating to a “neutral” rating and boosted their price target for the company from $7.00 to $8.00 in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.14.

Teva Pharmaceutical Industries Stock Performance

Shares of TEVA traded up $0.07 during mid-day trading on Friday, reaching $9.83. The company had a trading volume of 2,734,070 shares, compared to its average volume of 10,869,694. Teva Pharmaceutical Industries Limited has a 52-week low of $7.09 and a 52-week high of $11.44. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $11.02 billion, a P/E ratio of -4.88, a PEG ratio of 1.58 and a beta of 1.20. The stock has a 50 day moving average of $8.74 and a two-hundred day moving average of $8.66.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, August 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.69 billion. Teva Pharmaceutical Industries had a positive return on equity of 27.93% and a negative net margin of 14.87%. On average, analysts expect that Teva Pharmaceutical Industries Limited will post 2.16 earnings per share for the current year.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. The company offers sterile products, hormones, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams.