Alta Advisers Ltd Takes Position in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Alta Advisers Ltd acquired a new stake in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,500 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds have also recently made changes to their positions in TEVA. New Covenant Trust Company N.A. bought a new stake in Teva Pharmaceutical Industries during the first quarter valued at approximately $28,000. EntryPoint Capital LLC bought a new stake 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 second quarter valued at approximately $48,000. Byrne Asset Management LLC bought a new stake in Teva Pharmaceutical Industries during the second quarter valued at approximately $52,000. Finally, GAMMA Investing LLC grew its position in Teva Pharmaceutical Industries by 105.7% during the second quarter. GAMMA Investing LLC now owns 3,388 shares of the company’s stock valued at $55,000 after buying an additional 1,741 shares during the period. 54.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Teva Pharmaceutical Industries

In related news, Director Roberto Mignone sold 519,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the sale, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Eric A. Hughes sold 24,537 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $17.25, for a total value of $423,263.25. Following the sale, the insider now owns 45,060 shares of the company’s stock, valued at $777,285. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roberto Mignone sold 519,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the sale, the director now directly owns 981,000 shares in the company, valued at approximately $16,706,430. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TEVA. Jefferies Financial Group boosted 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. Argus upgraded shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, July 10th. Bank of America upped their price target on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. UBS Group upped their price target on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE:TEVA opened at $18.40 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The firm has a fifty day moving average price of $17.55 and a 200 day moving average price of $15.91. 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 $20.84 billion, a price-to-earnings ratio of -44.87, a P/E/G ratio of 1.25 and a beta of 0.88.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Wednesday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $3.99 billion. As a group, sell-side analysts expect that Teva Pharmaceutical Industries Limited will post 2.33 earnings per share 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.