Warren Buffett recoups some Teva losses

Warren Buffett Photo: Reuters Kevin Lamarque

Despite recent gains in the Israeli pharmaceutical company's share price, Berkshire Hathaway is still well down on its 4% Teva stake.

Berkshire Hathaway, controlled by Warren Buffett, has published its quarterly holdings in Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA). There is no change from the previous quarters in terms of the number of shares held - 43.2 million or a 4% stake - but the price of each share rose over the quarter to $9.37 from $6.88 for an overall value of $405 million compared with $298 million. Despite the rise, Buffett is still losing over $300 million since buying his Teva stake.

The volatility of the Israeli pharmaceutical company's share price has not deterred Berkshire Hathaway regarding its Teva stake and there has been no change in its holdings since its last purchase of shares in the second quarter of 2018.

Published by Globes, Israel business news - en.globes.co.il - on November 15, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Warren Buffett Photo: Reuters Kevin Lamarque
Warren Buffett Photo: Reuters Kevin Lamarque
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