Skandinaviska Enskilda Banken AB publ has increased its investment in Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) by 1.4% during the second quarter of 2023. According to a recent disclosure filed with the Securities and Exchange Commission (SEC), the institutional investor now holds a total of 1,747,901 shares. This increase follows the purchase of an additional 24,700 shares during the quarter, which brings the total value of its stake to approximately $29.3 million.
Other significant institutional investors have also adjusted their positions in Teva. Ion Asset Management Ltd. raised its stake by 6.5% during the first quarter, acquiring 39,033,500 shares valued at around $599.9 million. Meanwhile, Phoenix Financial Ltd. increased its holdings by 31.7% in the second quarter, bringing their total ownership to 37,761,444 shares worth approximately $632.9 million. Harel Insurance Investments & Financial Services Ltd. expanded its position by an impressive 51.4%, now owning 33,390,327 shares valued at $559.6 million.
Menora Mivtachim Holdings LTD. also increased its stake by 2.8% in the first quarter, acquiring a total of 29,189,316 shares worth around $448.6 million. Additionally, Migdal Insurance & Financial Holdings Ltd. raised its position by 8.9% in the second quarter, owning 28,685,422 shares valued at $480.8 million. Collectively, institutional investors control approximately 54.05% of Teva’s stock.
Insider Transactions and Stock Performance
In related news, Teva’s Director, Roberto Mignone, sold 200,000 shares on November 6, 2023, at an average price of $24.11, resulting in a total transaction value of $4.82 million. Following this sale, Mignone retains ownership of 495,000 shares, valued at around $11.9 million. This transaction signifies a 28.78% reduction in Mignone’s stake in the company, a detail disclosed in an SEC filing.
Teva shares experienced a notable uptick, opening at $26.94 on Friday, marking a 2.4% increase. The company currently holds a debt-to-equity ratio of 2.45, a quick ratio of 0.77, and a current ratio of 1.06. Over the past year, the stock has fluctuated between a low of $12.47 and a high of $26.96. The fifty-day moving average stands at $21.60, while the two-hundred day average is $18.80. Teva’s market capitalization is approximately $30.9 billion, with a price-to-earnings (P/E) ratio of -168.38 and a price-to-earnings-growth (PEG) ratio of 1.11.
Teva Pharmaceutical Industries operates globally, developing, manufacturing, and marketing a wide range of generic and specialty medicines, as well as biopharmaceutical products. Its extensive portfolio includes various dosage forms, such as tablets, injectables, and transdermal patches, serving markets in North America, Europe, and beyond.
For those interested in the latest institutional changes in Teva’s stock, HoldingsChannel.com provides comprehensive updates on 13F filings and insider trades.
