Teva Pharmaceutical Industries Ltd. has seen a significant insider sale as Director Roberto Mignone sold 77,400 shares of the company’s stock on December 16, 2023. The shares were sold at an average price of $30.24, amounting to a total transaction value of $2,340,576. Following this sale, Mignone retains 367,600 shares, valued at approximately $11,116,224, representing a 17.39% decrease in his ownership.
The sale was reported in a filing with the U.S. Securities and Exchange Commission (SEC), which is publicly accessible. This insider trading activity occurs amid a fluctuating market for Teva’s shares, which recently traded up by 0.7% to $30.28. The trading volume for this session reached 8,057,732 shares, though below its average volume of 11,753,719 shares.
Market Performance and Analyst Insights
Teva Pharmaceutical Industries Ltd. currently holds a market capitalization of $34.73 billion. Over the past year, the stock has experienced significant volatility, with a low of $12.47 and a high of $30.44. The company’s price-to-earnings (P/E) ratio stands at 50.47, with a price-to-earnings-growth (PEG) ratio of 1.79 and a beta of 0.67. Its 50-day simple moving average is $24.03, while the 200-day average is $19.88.
Teva’s financial metrics indicate a debt-to-equity ratio of 2.31, with a current ratio of 1.11 and a quick ratio of 0.82. Analysts suggest that these figures reveal a company in the midst of restructuring, with potential for future growth as it navigates its financial landscape.
Institutional Investment Activity
Hedge funds and institutional investors have also been active around Teva’s stock. Harel Insurance Investments & Financial Services Ltd. increased its holdings by 51.4% in 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. grew its position by 31.9%, holding 38,493,294 shares worth $645,148,000 following an increase of 9,303,978 shares. Phoenix Financial Ltd. also expanded its stake by 31.7%, now owning 37,761,444 shares valued at $632,882,000.
Other notable movements include Soundwatch Capital LLC, which acquired a new position worth approximately $143,533,000, and Wellington Management Group LLP, which raised its stake by an astonishing 39,228.4% in the third quarter, now holding 6,895,838 shares valued at $139,296,000. Collectively, hedge funds and institutional investors own 54.05% of Teva’s stock.
Teva Pharmaceutical Industries Ltd. specializes in the development, manufacture, and distribution of generic and specialty medicines, as well as biopharmaceutical products, across various global markets, including North America, Europe, and Israel.
