Sound Shore Management Inc. CT Sells 1,204,132 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Sound Shore Management Inc. CT lessened its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,772,712 shares of the company’s stock after selling 1,204,132 shares during the quarter. Teva Pharmaceutical Industries comprises approximately 3.5% of Sound Shore Management Inc. CT’s holdings, making the stock its 3rd biggest holding. Sound Shore Management Inc. CT’s holdings in Teva Pharmaceutical Industries were worth $105,191,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at $50,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at $66,000. IFP Advisors Inc raised its stake in shares of Teva Pharmaceutical Industries by 96.1% in the 4th quarter. IFP Advisors Inc now owns 3,999 shares of the company’s stock valued at $88,000 after acquiring an additional 1,960 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Teva Pharmaceutical Industries in the 4th quarter valued at $104,000. Finally, Assetmark Inc. raised its stake in shares of Teva Pharmaceutical Industries by 1,370.3% in the 4th quarter. Assetmark Inc. now owns 5,205 shares of the company’s stock valued at $115,000 after acquiring an additional 4,851 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TEVA shares. Barclays cut their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Piper Sandler raised their target price on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. UBS Group dropped 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 research note on Thursday, January 30th. StockNews.com raised shares of Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Bank of America dropped their price target on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.43.

Teva Pharmaceutical Industries Price Performance

Shares of TEVA stock opened at $16.18 on Monday. The firm has a market cap of $18.34 billion, a P/E ratio of -11.16, a P/E/G ratio of 1.44 and a beta of 0.82. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75. Teva Pharmaceutical Industries Limited has a 1-year low of $12.51 and a 1-year high of $22.80. The firm has a fifty day moving average of $17.79 and a two-hundred day moving average of $18.21.

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

About Teva Pharmaceutical Industries

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.