Ion Asset Management recently announced the acquisition of new stake in Teva- Pharmaceutical Industries Ltd. ADR (NYSE:TEVA). The institutional investor has increased its shareholding in the Healthcare company by 17.42% to 38.82 million shares with purchase of 5.76 million shares. This fresh investment now brings its stake to 3.46% valued currently at $381.24 million. In addition, Excellence Investments Ltd. raised its holdings by 0.78 million to 34.48 million shares. And Lingotto Investment Management LL has lifted its position by 39.80% or 9.64 million shares – to 33.85 million shares.
With over 5.6 million Teva- Pharmaceutical Industries Ltd. ADR (TEVA) shares trading Tuesday and a closing price of $10.48 on the day, the dollar volume was approximately $58.65 million. Currently, there are 1.12B common shares owned by the public and among those 1.12B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for TEVA have a consensus price objective of $42.01. The analysts have set the share’s price value over the next 12 months at a high of $51.33 and a low of $29.82. The average price target is 5.67% above its recent price level and an upside to the estimated low will see the stock gain 64.86% over that period. But an upside of 79.58% will see the stock hit the forecast high price target while median target price for the stock is $38.72.
Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 77,421 shares.
The top 3 mutual fund holders in Teva- Pharmaceutical Industries Ltd. ADR are American Funds Fundamental Invest, iShares Tr. – Core MSCI EAFE ETF, and iShares Tr. – MSCI EAFE ETF. American Funds Fundamental Invest owns 6.73 million shares of the company’s stock, all valued at over $66.06 million. The company sold 4144.0 shares recently to bring their total holdings to about 0.60% of the shares outstanding. iShares Tr. – MSCI EAFE ETF now owns shares totaling to 0.32% of the shares outstanding.
Shares of Teva- Pharmaceutical Industries Ltd. ADR (NYSE: TEVA) opened at $10.41, down -$0.07 from a prior closing price of $10.48. The company’s stock has a 5-day price change of 3.46% and 2.54% over the past three months. TEVA shares are trading 14.91% year to date (YTD), with the 12-month market performance up to 14.41% higher. It has a 12-month low price of $7.09 and touched a high of $11.44 over the same period. TEVA has an average intraday trading volume of 8.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.63%, 13.25%, and 18.07% respectively.
Institutional ownership of Teva- Pharmaceutical Industries Ltd. ADR (NYSE: TEVA) shares accounts for 50.30% of the company’s 1.12B shares outstanding. Mutual fund holders own 43.74%, while other institutional holders and individual stakeholders account for 6.67% and 0.13% respectively.
It has a market capitalization of $11.75B and a beta (3y monthly) value of 1.10. The earnings-per-share (ttm) stands at -$1.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.84% over the week and 3.27% over the month.
Analysts forecast that Teva- Pharmaceutical Industries Ltd. ADR (TEVA) will achieve an EPS of $0.75 for the current quarter, $0.51 for the next quarter and $2.41 for 2024. The lowest estimate earnings-per-share for the quarter is $0.7 while analysts give the company a high EPS estimate of $0.85. Comparatively, EPS for the current quarter was $0.71 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.49%, and 4.38% over the next financial year. EPS should shrink at an annualized rate of 1.60% over the next five years, compared to 33.47% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Teva- Pharmaceutical Industries Ltd. ADR (TEVA) as a “Moderate Buy” at a consensus score of 2.43. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 5 of the 14 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the TEVA, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on December 18, 2023, with the firm’s price target at $13.
