ARK Investment Management LLC Sells 23,422 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

ARK Investment Management LLC reduced its stake in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,443 shares of the company’s stock after selling 23,422 shares during the quarter. ARK Investment Management LLC’s holdings in Teva Pharmaceutical Industries were worth $2,214,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Smithfield Trust Co raised its holdings in Teva Pharmaceutical Industries by 55.7% during the 3rd quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock valued at $50,000 after buying an additional 980 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Teva Pharmaceutical Industries in the third quarter valued at about $50,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Teva Pharmaceutical Industries in the fourth quarter valued at about $66,000. Venturi Wealth Management LLC bought a new position in shares of Teva Pharmaceutical Industries during the third quarter valued at about $60,000. Finally, IFP Advisors Inc boosted its holdings in shares of Teva Pharmaceutical Industries by 96.1% during the fourth quarter. IFP Advisors Inc now owns 3,999 shares of the company’s stock worth $88,000 after purchasing an additional 1,960 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TEVA shares. Barclays reduced their price target on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler raised their price target on Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, UBS Group cut their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.57.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $22.01, for a total value of $6,294,860.00. Following the sale, the director now owns 695,000 shares in the company, valued at $15,296,950. This represents a 29.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Teva Pharmaceutical Industries Stock Up 1.1 %

Shares of NYSE:TEVA opened at $16.79 on Thursday. The firm has a market capitalization of $19.02 billion, a P/E ratio of -11.58, a P/E/G ratio of 1.44 and a beta of 0.71. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.75 and a current ratio of 0.98. The stock has a 50 day moving average price of $19.84 and a 200-day moving average price of $18.49. Teva Pharmaceutical Industries Limited has a 52-week low of $12.51 and a 52-week high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Teva Pharmaceutical Industries had a positive return on equity of 42.46% and a negative net margin of 9.91%. As a group, equities research analysts anticipate that Teva Pharmaceutical Industries Limited will post 2.5 EPS for the current fiscal 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.