Asset Management One Co. Ltd. has increased its holdings in Teva Pharmaceutical Industries Ltd. by 0.8%, acquiring an additional 3,403 shares during the second quarter of 2023. This uptick brings the firm’s total ownership to 432,240 shares, valued at approximately $7.24 million as of the end of the quarter, according to its latest 13F filing with the Securities and Exchange Commission.
Several other institutional investors have also adjusted their positions in Teva. Notably, Harel Insurance Investments & Financial Services Ltd. significantly raised its stake by an astonishing 197,885.2% during the first quarter, now holding 22,055,547 shares valued at $338.99 million. Similarly, Phoenix Financial Ltd. expanded its investment by 31.7% in the second quarter, increasing its holdings to 37,761,444 shares worth approximately $632.88 million.
Nuveen LLC entered the Teva market with a new stake valued at around $40.83 million in the first quarter, while Assenagon Asset Management S.A. reported a 41.1% increase in its holdings during the second quarter, now owning 8,445,992 shares valued at $141.56 million. Ion Asset Management Ltd. also raised its position by 6.5%, bringing its total to 39,033,500 shares, valued at $599.95 million.
Institutional investors collectively hold 54.05% of Teva’s stock, reflecting strong interest in the pharmaceutical firm.
Insider Transactions and Stock Performance
In related developments, insider trading activity has been notable. On August 1, 2023, Eric A. Hughes, an insider at Teva, sold 52,742 shares at an average price of $15.16, resulting in a transaction valued at $799,568.72. Another insider, Placid Jover, sold 6,053 shares on the same day for a total of $91,763.48. Following these transactions, Jover’s ownership dropped by 47.19% to 6,774 shares.
Teva’s stock opened at $19.63 on the latest trading day, with a one-year range between a low of $12.47 and a high of $22.80. The company maintains a market capitalization of $22.52 billion and a debt-to-equity ratio of 2.45.
Recent Earnings and Future Outlook
Teva Pharmaceutical Industries recently reported its quarterly earnings on July 30, 2023, announcing earnings per share (EPS) of $0.66, surpassing analysts’ expectations of $0.64 by $0.02. While the company observed a slight year-over-year revenue increase of 0.3%, it reported total revenues of $4.18 billion, falling short of the anticipated $4.34 billion.
Looking ahead, Teva has set its fiscal year 2025 guidance between $2.50 and $2.60 EPS. Analysts predict that the company will maintain an EPS of $2.50 for the current fiscal year.
Founded in 1901, Teva Pharmaceutical Industries Ltd. is a global leader in developing and distributing generic and specialty pharmaceuticals. The company’s diverse portfolio includes a wide range of dosage forms such as tablets, injectables, and creams, catering to markets in North America, Europe, and beyond.
As institutional interest grows, Teva continues to navigate the complexities of the pharmaceutical landscape, positioning itself strategically for future growth.
