As Teva Pharmaceutical (TEVA) Stock Price Declined, Northern Cross LLC Lifted Holding

December 7, 2017 - By Vivian Park

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 $591.17M, 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 $15.24 billion market cap company. The stock increased 4.75% or $0.68 during the last trading session, reaching $15. About 15.69 million 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 $51.96 billion and $7.76B US Long portfolio, decreased its stake in Alibaba Group Holding (NYSE:BABA) by 82,334 shares to 6.91 million shares, valued at $973.70M in 2017Q2, according to the filing. It also reduced its holding in Las Vegas Sands Corp (NYSE:LVS) by 215,984 shares in the quarter, leaving it with 37.14 million shares, and cut its stake in A.

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. RBC Capital Markets maintained the stock with “Buy” rating in Friday, June 16 report. As per Friday, April 7, the company rating was maintained by Oppenheimer. The rating was maintained by Maxim Group with “Buy” on Wednesday, November 16. On Thursday, August 25 the stock rating was maintained by Mizuho with “Buy”. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) earned “Buy” rating by Argus Research on Tuesday, July 28. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) has “Neutral” rating given on Wednesday, August 16 by Citigroup. The rating was downgraded by Morgan Stanley on Monday, August 7 to “Underweight”. The rating was maintained by Barclays Capital on Tuesday, January 31 with “Equal Weight”. The rating was downgraded by Mizuho to “Neutral” on Friday, February 10. The company was initiated on Wednesday, May 4 by Credit Suisse.

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