Northern Cross LLC Maintains Stake in Teva Pharmaceutical (TEVA)

December 7, 2017 - By Ellis Scott

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 17.80M shares of the major pharmaceuticals company at the end of 2017Q2, valued at $591.17 million, up from 15.61M 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 $15.24B 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 Series C by 174,745 shares to 5.82 million shares, valued at $181.58 million in 2017Q2, according to the filing. It also reduced its holding in Barrick Gold Corp (NYSE:ABX) by 983,134 shares in the quarter, leaving it with 7.51 million shares, and cut its stake in Bancolombia S.A. (NYSE:CIB).

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. On Friday, February 10 the stock rating was downgraded by Mizuho to “Neutral”. Mizuho maintained Teva Pharmaceutical Industries Limited (NYSE:TEVA) on Wednesday, November 16 with “Neutral” rating. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) has “Market Perform” rating given on Friday, August 4 by Bernstein. The company was initiated on Tuesday, September 29 by Nomura. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) has “Hold” rating given on Friday, October 6 by Piper Jaffray. The firm earned “Hold” rating on Friday, January 6 by Maxim Group. The stock has “Underweight” rating by Morgan Stanley on Monday, August 7. RBC Capital Markets maintained Teva Pharmaceutical Industries Limited (NYSE:TEVA) on Monday, October 30 with “Sell” rating. The rating was maintained by RBC Capital Markets with “Underperform” on Friday, November 3. As per Friday, June 16, the company rating was initiated by Cantor Fitzgerald.

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