On June 12, 2023, Panagora Asset Management Inc. made headlines by reducing its stake in Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 61.7%. According to the company’s latest filing with the Securities and Exchange Commission, Panagora Asset Management Inc. owned 232,789 shares of TEVA’s stock after selling 375,401 shares during the period. As a result of this move, Panagora Asset Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $2,123,000 at the end of the most recent quarter.
This news raises some questions for investors who are wondering what other hedge funds are holding TEVA since it traded down on Monday by $0.02 and reached only $7.31 with a trading volume of 2,673,007 shares compared to its average volume of 11,231,442. What caused this drop-in trading performance?
The answer might be found in the company’s recent financial performance and its current market dynamics. For example, TEVA’s current ratio of 1.10 isn’t stellar which could be an issue when looking at short-term liquidity for investors. Moreover, TEVA’s debt-to-equity ratio stands at a staggering 2.28 which points to higher financial risk than competitors with lower debt-to-equity ratios.
Additionally, Teva Pharmaceutical Industries Limited has a market capitalization of $8.19 billion as of this date which is relatively low in comparison to previous years for the company but still significant considering other pharmaceutical companies’ market capitalizations.
However, there are reasons for optimism regarding TEVA’s future and current value that investors should consider as well when making investment decisions. The company currently has a price-to-earnings ratio of -5.07 which reflects that analysts expect strong earnings growth from TEVA over the next year despite potential risks related to debt and liquidity issues.
Moreover, the company’s P/E/G ratio of 1.31 indicates that TEVA shares are undervalued when compared to analysts’ estimates of future earnings growth which means this could be an opportune moment for investors to buy at a low price.
In conclusion, Panagora Asset Management Inc.’s reduced stake in Teva Pharmaceutical Industries Limited raises some questions about its performance and market dynamics, but also serves as an opportunity for investors looking to benefit from possible value-oriented investments with long-term prospects. As always, investors should conduct thorough research before investing in any stock.
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Teva Pharmaceutical Industries Sees Surge of Institutional Investors and Hedge Funds
Teva Pharmaceutical Industries Ltd. has recently had a surge in institutional investors and hedge funds buying and selling shares of the company. Toronto Dominion Bank purchased a new stake in Teva Pharmaceutical Industries at $31,000 while Signaturefd LLC raised its holdings by 85.7% to over $27,000. U.S. Capital Wealth Advisors LLC and Ronald Blue Trust Inc. also increased their holdings in the company to $54,000 and $30,000 respectively. Pacer Advisors Inc. came in with a new stake of approximately $76,000. Fifty percent of the stock is currently owned by hedge funds and other institutional investors.
Recently, Teva has been on the radar for many research reports from analysts with both buyout ratings and sellout ratings. Morgan Stanley initiated coverage on shares of Teva Pharmaceutical Industries with an “equal weight” rating and a set target price of $10 per share while StockNews.com gave it a “buy” rating.
On May 10th, Teva announced its quarterly earnings result which saw them miss analysts’ consensus estimates of earnings per share (EPS) by ($0.18) at $0.37 EPS for the quarter despite beating analyst revenue estimates with $3.66 billion during the quarter compared to an expected forecast of $3.60 billion.
The Israel-based Company was founded in 1901 with interests focused on the development, production, and sale of medicines globally through its segments located across North America, Europe as well as International Markets.
Interested parties can visit HoldingsChannel.com to get access to insider trades and latest 13F filings regarding Teva Pharmaceutical Industries Limited NYSE:TEVA’s holdings.
It is predicted that Teva Pharmaceutical industries will post additional earnings per share for this current fiscal year as recommended by analysts forecast which stands at 2.19 EPS