Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Teva Pharmaceutical Industries Ltd (TEVA)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 62.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 838,120 shares of the company’s stock after selling 1,373,412 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Teva Pharmaceutical Industries were worth $13,142,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TEVA. Bruderman Asset Management LLC increased its position in shares of Teva Pharmaceutical Industries by 2,175.0% during the fourth quarter. Bruderman Asset Management LLC now owns 2,366 shares of the company’s stock valued at $36,000 after acquiring an additional 2,262 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Teva Pharmaceutical Industries by 61.2% during the first quarter. Lindbrook Capital LLC now owns 2,489 shares of the company’s stock valued at $39,000 after acquiring an additional 945 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Teva Pharmaceutical Industries during the first quarter valued at about $40,000. Rational Advisors LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the fourth quarter valued at about $49,000. Finally, Edgemoor Investment Advisors Inc. acquired a new stake in shares of Teva Pharmaceutical Industries during the first quarter valued at about $54,000. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Notaristefani Carlo De sold 16,070 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.42, for a total value of $183,519.40. Following the completion of the transaction, the vice president now owns 49,659 shares in the company, valued at $567,105.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Deborah A. Griffin sold 4,107 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $16.88, for a total transaction of $69,326.16. Following the completion of the transaction, the insider now owns 2,941 shares of the company’s stock, valued at approximately $49,644.08. The disclosure for this sale can be found here. Insiders sold 28,349 shares of company stock valued at $384,241 in the last quarter. 0.49% of the stock is owned by insiders.

Shares of Teva Pharmaceutical Industries stock opened at $11.04 on Friday. Teva Pharmaceutical Industries Ltd has a 52-week low of $11.26 and a 52-week high of $25.96. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $11.55 billion, a P/E ratio of 3.94, a PEG ratio of 1.49 and a beta of 1.30.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. Teva Pharmaceutical Industries had a negative net margin of 18.66% and a positive return on equity of 16.84%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. On average, equities research analysts anticipate that Teva Pharmaceutical Industries Ltd will post 2.26 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of Teva Pharmaceutical Industries in a research report on Thursday, May 2nd. Royal Bank of Canada set a $19.00 price target on shares of Teva Pharmaceutical Industries and gave the company a “hold” rating in a research report on Friday, May 3rd. Wells Fargo & Co lowered their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th. Bank of America reissued a “buy” rating and issued a $24.00 price objective on shares of Teva Pharmaceutical Industries in a research note on Tuesday, February 5th. Finally, Raymond James raised shares of Teva Pharmaceutical Industries from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.53.

ILLEGAL ACTIVITY WARNING: “Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Teva Pharmaceutical Industries Ltd (TEVA)” was first posted by WKRB News and is the sole property of of WKRB News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.wkrb13.com/2019/05/24/connor-clark-lunn-investment-management-ltd-decreases-stake-in-teva-pharmaceutical-industries-ltd-teva.html.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams.

Read More: The mechanics of the bid-ask spread in trading

Want to see what other hedge funds are holding TEVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teva Pharmaceutical Industries Ltd (NYSE:TEVA).

Institutional Ownership by Quarter for Teva Pharmaceutical Industries (NYSE:TEVA)

Receive News & Ratings for Teva Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teva Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.