King Wealth Management Group Makes New Investment in Teva Pharmaceutical Industries Limited (NYSE:TEVA)

King Wealth Management Group acquired a new position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the third quarter, HoldingsChannel.com reports. The firm acquired 98,102 shares of the company’s stock, valued at approximately $1,768,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEVA. New Covenant Trust Company N.A. bought a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of Teva Pharmaceutical Industries in the first quarter valued at about $30,000. UMB Bank n.a. raised its stake in Teva Pharmaceutical Industries by 555.6% during the third quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after buying an additional 2,067 shares during the last quarter. Beach Investment Counsel Inc. PA acquired a new position in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at about $48,000. Finally, Byrne Asset Management LLC acquired a new position in Teva Pharmaceutical Industries in the second quarter valued at approximately $52,000. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Trading Down 1.1 %

NYSE TEVA opened at $16.75 on Friday. The stock has a 50-day moving average of $17.84 and a 200-day moving average of $17.20. Teva Pharmaceutical Industries Limited has a 1-year low of $8.64 and a 1-year high of $19.31. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.89 and a quick ratio of 0.61.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Barclays boosted their target price on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group raised their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.