Teva Pharmaceutical (TEVA) Market Value Declined While Northern Cross LLC Has Increased Holding by $72.08 Million

December 7, 2017 - By Adrian Erickson

Northern Cross Llc increased its stake in Teva Pharmaceutical (TEVA) by 13.99% based on its latest 2017Q2 regulatory filing with the SEC. Northern Cross Llc bought 2.18 million shares as the company’s stock declined 15.11% while stock markets rallied. The institutional investor held 17.80 million shares of the major pharmaceuticals company at the end of 2017Q2, valued at $591.17 million, up from 15.61 million at the end of the previous reported quarter. Northern Cross Llc who had been investing in Teva Pharmaceutical for a number of months, seems to be bullish on the $15.24 billion market cap company. The stock increased 4.75% or $0.68 during the last trading session, reaching $15. About 15.69M shares traded. Teva Pharmaceutical Industries Limited (NYSE:TEVA) has declined 41.70% since December 7, 2016 and is downtrending. It has underperformed by 58.40% the S&P500.

Northern Cross Llc, which manages about $51.96B and $7.76 billion US Long portfolio, decreased its stake in Barrick Gold Corp (NYSE:ABX) by 983,134 shares to 7.51M shares, valued at $119.56M in 2017Q2, according to the filing. It also reduced its holding in Wynn Resorts Ltd (NASDAQ:WYNN) by 867,117 shares in the quarter, leaving it with 8.28M shares, and cut its stake in Alibaba Group Holding (NYSE:BABA).

More recent Teva Pharmaceutical Industries Limited (NYSE:TEVA) news were published by: Fool.com which released: “Here’s Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a Stone” on August 03, 2017. Also Investorplace.com published the news titled: “Why Teva Pharmaceutical Stock is Surging Today” on November 27, 2017. Fool.com‘s news article titled: “Why Teva Pharmaceutical Industries Ltd. (ADR) Is Soaring” with publication date: September 11, 2017 was also an interesting one.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) Ratings Coverage

Among 31 analysts covering Teva Pharma (NYSE:TEVA), 8 have Buy rating, 7 Sell and 16 Hold. Therefore 26% are positive. Teva Pharma had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Monday, August 7 with “Equal-Weight”. The stock has “Buy” rating by Bank of America on Tuesday, January 31. J.P. Morgan downgraded it to “Sell” rating and $11.0 target in Monday, November 13 report. The stock has “Overweight” rating by Morgan Stanley on Wednesday, July 29. Mizuho maintained the stock with “Hold” rating in Wednesday, August 2 report. Credit Suisse initiated the stock with “Neutral” rating in Wednesday, May 4 report. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) earned “Neutral” rating by BTIG Research on Friday, April 7. The firm has “Outperform” rating given on Friday, September 2 by Oppenheimer. The firm has “Hold” rating by Jefferies given on Wednesday, November 16. The firm earned “Hold” rating on Wednesday, October 4 by Oppenheimer.

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