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

ARK Investment Management LLC lessened its holdings in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 18.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,443 shares of the company’s stock after selling 23,422 shares during the period. ARK Investment Management LLC’s holdings in Teva Pharmaceutical Industries were worth $2,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEVA. Smithfield Trust Co lifted its position in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Teva Pharmaceutical Industries during the third quarter valued at approximately $50,000. Venturi Wealth Management LLC bought a new position in shares of Teva Pharmaceutical Industries in the third quarter worth approximately $60,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Teva Pharmaceutical Industries in the fourth quarter worth $66,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Teva Pharmaceutical Industries by 273.5% in the third quarter. Farther Finance Advisors LLC now owns 4,538 shares of the company’s stock worth $82,000 after purchasing an additional 3,323 shares in the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Up 1.1 %

Shares of Teva Pharmaceutical Industries stock opened at $16.79 on Thursday. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.98 and a quick ratio of 0.75. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of -11.58, a PEG ratio of 1.44 and a beta of 0.71. The firm’s 50-day moving average is $19.84 and its two-hundred day moving average is $18.49. Teva Pharmaceutical Industries Limited has a 1 year low of $12.51 and a 1 year high of $22.80.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.70 earnings per share for the quarter, beating 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, research analysts expect that Teva Pharmaceutical Industries Limited will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays lowered their price objective on Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler increased their price objective on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, UBS Group lowered their target price 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 company’s stock. Based on data from MarketBeat, Teva Pharmaceutical Industries has a consensus rating of “Moderate Buy” and a consensus target price of $23.57.

Insiders Place Their Bets

In other news, Director Roberto Mignone sold 286,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 695,000 shares of the company’s stock, valued at approximately $15,296,950. This represents a 29.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.