Capital Research & Management Co recently announced the acquisition of new stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA). The institutional investor has increased its shareholding in the Healthcare company by 25.79% to 117.19 million shares with purchase of 24.02 million shares. This fresh investment now brings its stake to 10.55% valued currently at $1.05 billion. In addition, Capital Research & Management Co raised its holdings by 39.33 million to 39.33 million shares. And Migdal Insurance Co. Ltd. has lifted its position by 9.46% or 1.85 million shares – to 21.38 million shares.
With over 7.02 million Teva Pharmaceutical Industries Limited (TEVA) shares trading Monday and a closing price of $8.83 on the day, the dollar volume was approximately $61.95 million. The shares have shown a positive half year performance of 4.50% and its price on 11/21/22 gained nearly 1.26%. Currently, there are 1.11B common shares owned by the public and among those 1.09B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for TEVA have a consensus price objective of $9.89. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $7.00. The average price target is 9.9% above its recent price level and a downside to the estimated low will see the stock lose -26.14% over that period. But an upside of 32.08% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Teva Pharmaceutical Industries Limited are American Funds Growth Fund of Ame, American Funds Investment Company, and American Funds Fundamental Invest. American Funds Growth Fund of Ame owns 58.73 million shares of the company’s stock, all valued at over $523.91 million. The company bought an additional 38.74 million shares recently to bring their total holdings to about 5.29% of the shares outstanding. American Funds Investment Company sold -14.92 million shares to see its total holdings shrink to 56.8 million shares valued at over $506.62 million and representing 5.11% of the shares outstanding. American Funds Fundamental Invest bought 10.96 million shares to bring its total holdings to over 17.69 million shares at a value of $157.77 million. American Funds Fundamental Invest now owns shares totaling to 1.59% of the shares outstanding.
Shares of Teva Pharmaceutical Industries Limited (NYSE: TEVA) opened at $8.64, down -$0.08 from a prior closing price of $8.72. However, the script later moved the day high at 8.85, up 1.26%. The company’s stock has a 5-day price change of -5.46% and -12.23% over the past three months. TEVA shares are trading 10.24% year to date (YTD), with the 12-month market performance down to -0.56% lower. It has a 12-month low price of $6.78 and touched a high of $11.34 over the same period. TEVA has an average intraday trading volume of 9.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.76%, 3.17%, and 2.28% respectively.
Institutional ownership of Teva Pharmaceutical Industries Limited (NYSE: TEVA) shares accounts for 49.70% of the company’s 1.11B shares outstanding. Mutual fund holders own 21.06%, while other institutional holders and individual stakeholders account for 30.12% and 0.14% respectively.
It has a market capitalization of $9.92B and a beta (3y monthly) value of 1.27. The earnings-per-share (ttm) stands at -$1.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.65% over the week and 4.11% over the month.
Analysts forecast that Teva Pharmaceutical Industries Limited (TEVA) will achieve an EPS of $0.62 for the current quarter, $0.71 for the next quarter and $2.55 for 2023. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $0.67. Comparatively, EPS for the current quarter was $0.59 a year ago. Earnings per share for the fiscal year are expected to increase by 110.30%, and -1.07% over the next financial year. EPS should shrink at an annualized rate of 2.00% over the next five years, compared to 39.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Teva Pharmaceutical Industries Limited (TEVA) as a “Hold” at a consensus score of 3.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 7 of the 13 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the TEVA, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on November 14, 2022, with the firm’s price target at $11-$10. Jefferies was of a view on October 21, 2022 that the stock is Buy, while BofA Securities gave the stock Buy rating on August 05, 2022, issuing a price target of $10- $13. UBS on their part issued Neutral rating on June 14, 2022.