Cornercap Investment Counsel Inc. Invests $1.05 Million in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 64,514 shares of the company’s stock, valued at approximately $1,048,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Lingotto Investment Management LLP lifted its position in shares of Teva Pharmaceutical Industries by 1.8% during the fourth quarter. Lingotto Investment Management LLP now owns 34,457,656 shares of the company’s stock worth $359,738,000 after acquiring an additional 607,800 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in Teva Pharmaceutical Industries by 68.3% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock worth $61,568,000 after purchasing an additional 1,770,000 shares in the last quarter. Iron Triangle Partners LP boosted its stake in Teva Pharmaceutical Industries by 113.1% in the 1st quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock worth $39,083,000 after purchasing an additional 1,469,864 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Teva Pharmaceutical Industries by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,159,333 shares of the company’s stock worth $30,468,000 after purchasing an additional 27,713 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Teva Pharmaceutical Industries by 45.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,072,506 shares of the company’s stock valued at $29,243,000 after buying an additional 645,353 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TEVA shares. UBS Group raised their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on shares of Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 27th. StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. Argus raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 10th. Finally, Barclays boosted their target price on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

Insider Transactions at Teva Pharmaceutical Industries

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

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA opened at $18.02 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 stock’s 50-day simple moving average is $17.49 and its two-hundred day simple moving average is $15.86. Teva Pharmaceutical Industries Limited has a twelve month low of $8.06 and a twelve month high of $19.08.

Teva Pharmaceutical Industries (NYSE:TEVA) last released 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. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. As a group, equities research analysts predict that Teva Pharmaceutical Industries Limited will post 2.33 earnings per share for the current 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.