Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) has reported a significant stock transaction involving its director, Roberto Mignone. On December 16, 2023, Mignone sold 77,400 shares at an average price of $30.24, amounting to a total value of $2,340,576. Following this sale, he retains ownership of 367,600 shares, valued at approximately $11,116,224. This transaction reflects a 17.39% decrease in his stake in the company.
In trading activity on Thursday, shares of Teva increased by 0.7%, reaching $30.28. The trading volume for the day was 8,057,732 shares, which is lower than its average volume of 11,753,719 shares. Teva’s stock has experienced notable fluctuations over the past year, with a low of $12.47 and a high of $30.44. The company’s market capitalization currently stands at $34.73 billion, with a price-to-earnings (P/E) ratio of 50.47 and a price-to-earnings-growth (PEG) ratio of 1.79.
Institutional Investment Trends
Recent activities among institutional investors highlight significant interest in Teva Pharmaceutical Industries. Harel Insurance Investments & Financial Services Ltd. increased its holdings by 51.4% during the second quarter, now owning 33,390,327 shares valued at $559,622,000 after acquiring an additional 11,334,780 shares. Similarly, Menora Mivtachim Holdings LTD. expanded its position by 31.9%, bringing its ownership to 38,493,294 shares, valued at $645,148,000.
Another notable investor, Phoenix Financial Ltd., raised its stake by 31.7%, resulting in ownership of 37,761,444 shares worth $632,882,000. Meanwhile, Soundwatch Capital LLC entered the market with a new stake valued at approximately $143,533,000 during the same period.
The most striking increase was reported by Wellington Management Group LLP, which raised its stake by an astounding 39,228.4% in the third quarter. The firm now holds 6,895,838 shares, valued at $139,296,000, after acquiring an additional 6,878,304 shares. Overall, 54.05% of Teva’s stock is owned by hedge funds and institutional investors, indicating robust confidence in the company’s future.
Company Overview
Teva Pharmaceutical Industries develops, manufactures, markets, and distributes a range of generic medicines, specialty medicines, and biopharmaceutical products globally. The company offers an extensive portfolio, including various dosage forms such as tablets, capsules, injectables, inhalants, and creams. Teva’s diverse product range positions it as a significant player in the pharmaceutical industry, catering to needs in regions including North America, Europe, and Israel.
As the market continues to evolve, Teva’s strategic movements and investor interest will be closely monitored, reflecting broader trends in the healthcare sector.
