Mivtachim Reduces Stake in Teva Pharmaceutical Industries

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management has decreased its shareholding in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 4.7% during the third quarter, based on its latest filings with the SEC. After selling 67,612 shares in this period, the fund now holds 1,385,731 shares of Teva.

Teva Pharmaceutical Industries constitutes approximately 3.4% of Mivtachim's total holdings, making it the 11th largest investment in their portfolio. As of the most recent report, the fund's ownership in Teva is valued at about $24.97 million.

Changes in Shareholder Landscape

Other institutional players have also adjusted their positions in Teva recently. For instance, New Covenant Trust Company N.A. initiated a new stake in the first quarter, valued at about $28,000. Similarly, EntryPoint Capital LLC invested approximately $30,000 in the same quarter.

In the third quarter, UMB Bank n.a. increased its holdings by a significant 555.6%, now possessing 2,439 shares worth $44,000 after buying an additional 2,067 shares. Beach Investment Counsel Inc. PA entered a new position valued at roughly $48,000 during the second quarter, while Byrne Asset Management LLC acquired shares during the same time frame worth about $52,000. Notably, institutional investors collectively own 54.05% of Teva's stock.

Analyst Ratings Shifts

In recent developments, several research firms have updated their opinions on Teva. Barclays raised the price target from $22.00 to $25.00, assigning an "overweight" rating in a note released on October 23rd. Meanwhile, JPMorgan Chase & Co. adjusted their target from $16.00 to $18.00, giving Teva a "neutral" rating.

StockNews.com upgraded its recommendation from a "buy" to a "strong-buy" on October 17th. UBS Group also lifted its target from $24.00 to $26.00, endorsing the stock with a "buy" rating as of September 3rd. Analysts have a consensus rating of "Moderate Buy," with an average target price estimated at $19.67.

Teva Pharmaceutical Stock Performance

On the trading floor, shares of Teva Pharmaceuticals fell by $0.39 on Friday, reaching a price of $17.11. The trading volume amounted to 6,225,171 shares, with an average volume of approximately 6,402,547. The company holds a quick ratio of 0.59 and a current ratio of 0.89, while its debt-to-equity ratio stands at 2.57. Teva's 50-day moving average is $17.94, compared to its 200-day moving average of $17.12. The stock has recorded a 1-year low of $8.55 and a 1-year high of $19.31, coupled with a market capitalization of $19.38 billion.

Recent Earnings Report

Teva Pharmaceutical Industries disclosed its quarterly earnings on November 6th, revealing earnings per share of $0.67, which surpassed analyst expectations of $0.63 by $0.04. The company reported a return on equity of 42.92% despite experiencing a negative net margin of 5.73%. The quarterly revenue was $4.33 billion, surpassing the predicted $4.08 billion.

As analysts estimate, Teva Pharmaceutical Industries Limited is projected to report 2.34 EPS for the current year.

Company Overview

Teva Pharmaceutical Industries Limited engages in developing, manufacturing, marketing, and distributing a wide range of generic and specialty medicines, alongside biopharmaceutical products across North America, Europe, and Israel.

The company provides diverse dosage forms including tablets, capsules, injectables, inhalants, liquids, and more, ensuring a broad spectrum of healthcare solutions.

Mivtachim, Teva, Shares