Northern Cross LLC Has Increased Stake in Teva Pharmaceutical (TEVA) as Share Price Declined

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 2.18M 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 $15.24B 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 $51.96B and $7.76B US Long portfolio, decreased its stake in Wynn Resorts Ltd (NASDAQ:WYNN) by 867,117 shares to 8.28 million shares, valued at $1.11B 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 Las Vegas Sands Corp (NYSE:LVS).

More recent Teva Pharmaceutical Industries Limited (NYSE:TEVA) news were published by: Investorplace.com which released: “Why Teva Pharmaceutical Stock is Surging Today” on November 27, 2017. Also Fool.com published the news titled: “Here’s Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a Stone” on August 03, 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 firm has “Neutral” rating given on Friday, April 7 by BTIG Research. Maxim Group maintained Teva Pharmaceutical Industries Limited (NYSE:TEVA) on Friday, August 4 with “Hold” rating. On Tuesday, September 29 the stock rating was initiated by Nomura with “Neutral”. On Monday, October 24 the stock rating was downgraded by Mizuho to “Neutral”. The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) has “Outperform” rating given on Wednesday, April 5 by Cowen & Co. The rating was maintained by Citigroup on Tuesday, July 28 with “Buy”. The stock has “Buy” rating by Jefferies on Friday, October 30. Oppenheimer reinitiated the stock with “Outperform” rating in Wednesday, December 7 report. The rating was upgraded by BTIG Research on Monday, September 11 to “Buy”. Jefferies maintained it with “Buy” rating and $69 target in Thursday, July 14 report.

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